Dycom Industries Inc DY has acquired Bigham Cable Construction, Inc. for an undisclosed sum.
Bigham provides telecommunications construction services in the southeastern U.S. Bigham generated approximately $140 million in revenue over the last twelve months.
The acquisition strengthens Dycom's customer base and geographic scope and expands its ability to further address growth opportunities in rural broadband deployments.
In addition, Dycom's Board of Directors has authorized a new $150 million program to repurchase shares of outstanding common stock.
Dycom held $83.4 million in cash and equivalents as of July 29, 2023.
Price Action: DY shares traded higher by 6.74% at $104.75 on the last check Wednesday.
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