March 2, 2010 (FinancialWire) — Consolidated Communications Holdings, Inc. (NASDAQ: CNSL) said it has reached an agreement to sell its Consolidated Market Response business process outsourcing division to Solix, Inc. The company said it also plans to phase-out its Consolidated Operator Services division by mid-year.
Consolidated Communications’ Consolidated Operator Services division provides live operators and directory assistance for several telecommunications providers.
New Jersey-based Solix is a process outsourcing firm specializing in the administration of state and federal public benefits programs.
Consolidated said it expects that the CMR sale will close in the first quarter of 2010, and the COS division will be phased-out over the next few months.
Terms of the CMR sale were not disclosed. The divisions combined to produce $17.0 million in revenue for 2009, according to Consolidated.
The company said that the actions should have a slightly positive impact to CNSL's adjusted EBITDA going forward.
Illinois-based Consolidated Communications Holdings is a rural local exchange company providing communication services to residential and business customers in Illinois, Texas and Pennsylvania.
CMR was formed in 1988 primarily to serve the communications industry. The business employs around 350 people.
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