LICT Corporation (OTC: LICT) said it is reporting that the shareholders of Dixon Telephone company have approved the acquisition of Dixon by Central Scott Telephone company , a wholly owned subsidiary of LICT.
The acquiring company is a single-member limited liability company, Dixon Acquisition, LLC, owned by Central Scott.
The definitive agreement for this acquisition was signed on July 21, 2015. The transaction is subject to regulatory approvals by the Iowa Utilities board and the Federal Communications Commission. All of the required regulatory filings have been made. It is currently anticipated that the approvals will be received during September and that the transaction will close by September 30, 2015 or shortly thereafter.
LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas.