Altice USA to acquire broadband operator Morris Broadband

Altice USA Inc. agreed to acquire the assets of broadband communications services company Morris Broadband LLC for a total enterprise value of $310 million.

The debt-free and cash-free deal will expand Altice USA's footprint in North Carolina, where it already operates its Suddenlink business, according to a March 1 news release.

Altice USA plans to use available liquidity to fund the acquisition of Morris Broadband, which provides high-speed data, video and voice services to homes and businesses in western North Carolina.

The transaction is expected to close in the second quarter, subject to certain regulatory approvals and other customary closing conditions.

Morris Broadband tapped Moorgate Securities as financial adviser on the deal.