BANGOR – Mid-Maine Communications, a Maine-based telecommunications company, announced it has signed an agreement to be acquired by Otelco Inc., a publicly traded telecommunications company. Otelco has its headquarters in Oneonta, Ala., and serves approximately 39,000 telecom access line equivalents in Alabama and Missouri.

Gary Sugarman, chairman and founder of Mid-Maine, indicated that a key factor in the decision was the two companies’ comparable philosophies and strategies.

Otelco officials believe expansion opportunities exist in New England and that the Mid-Maine acquisition can be the catalyst for growth in this part of the country

Otelco Chief Executive Officer Mike Weaver said he “is delighted to partner with a company that has such an excellent reputation as Mid-Maine” and looks forward to continuing to provide outstanding customer service and telecom solutions to MMC’s customer base from Portland to Enfield. He added that Mid-Maine’s focus on local operations and support will not change.

Nick Winchester, chief executive officer of Mid-Maine, will continue to oversee the company operations after the acquisition.

Mid-Maine Communications was founded in 1994 and is one the largest facility-based telecom companies in the state with offices in Bangor and Portland. The company provides local telecom services as well as a full range of data services from DSL to fiber transport to both a residential base around Bangor and business customers throughout the state.

The transaction is subject to various regulatory approvals. Daniels & Associates, the Denver-based telecommunications and media mergers and acquisitions and corporate finance specialist, represented Mid-Maine in the transaction.