New York City-based Charter Communications Inc. will buy wireless broadband provider N-Link Corp. for $300 million, bringing its stake in the company’s portfolio of wireless carriers to $300 billion, the company announced Thursday.
The deal, which will bring Charter to a total of $1.6 billion in total assets, is expected to close in the second half of 2019, Charter said in a statement.
The purchase, which comes as Charter has been looking for ways to bolster its wireless holdings, follows an earlier $300.4 billion deal by AT&T Inc. to acquire rival Verizon Communications Inc., which was completed in April.
Charter said it will invest in wireless networks with spectrum holdings in the U.S. and Canada that are valued at more than $20 billion, which it expects to add to its portfolio.
The company also will add another $200 million in new investments to its existing portfolio, which includes cellular, Internet and video services.
Charm is also a leading provider of wireless service in the European Union.