ATN International, a publicly traded telecommunications company that is headquartered in Beverly, Massachusetts, completed the acquisition of Alaska Communications, a full-service telecommunications provider in Alaska, for $332m. ATN's offer was picked over the $320m agreement with Macquarie and GCM Grosvenor, which was terminated. TAR Holdings, which owns approximately 8.8% of the outstanding shares of Alaska Communications common stock, has entered into a voting agreement with ATN, among other things, to vote in favor of the merger. "This investment and merger allows us to enter a new market with many similar characteristics to our existing operations in the US and elsewhere. Further, it aligns with our strategy to leverage the broad capabilities of our operating platform to enhance and augment leading providers of facilities-based communications services in distinctive markets. ATN has a long history of enabling its subsidiaries to gain and maintain strong market positions by investing in high quality infrastructure, the latest technologies and creative solutions to give customers a superior experience. We recognize the same determination and customer-centric approach in the Alaska Communications team. Our industry is rapidly changing, and communications requirements have never been more essential and critical than they are today. We look forward to combining our resources and experience with Alaska Communications’ market knowledge and reputation for superior service to provide industry-leading communications products and services to customers in Alaska and beyond," Michael Prior, ATN Chairman and CEO.