Regional phone and IP service provider Windstream continued its buying spree this week with an agreement to acquire Q-Comm, a regional fiber transport and competitive local exchange carrier (CLECs) based in Kansas, for $782 million in cash, stock and debt. Announced on Wednesday, the deal comes on the heels of Windstream’s $1.1 billion purchase of Iowa Telecommunications Services in June and last year’s acquisition of three CLECs that include South Carolina IP voice and data service provider NuVox. Based in Arkansas, Windstream currently offers phone, broadband, and high-definition digital television services to customers in 23 states. The transaction is expected to double the amount of fiber owned by Windstream to enable the company to expand the breadth and quality of its broadband offerings to business and residential customers. The deal includes two wholly-owned Q-Comm subsidiaries: (1) Kentucky Data Link, a provider of fiber-based services in 22 states, and (2) Norlight, Inc., a small competitive local exchange carrier with 5,500 customers in the Midwest. Under the terms of the deal, Windstream will pay Q-Comm $278 million in cash and will issue 20.6 million shares of common stock, valued at $237 million, based on Windstream’s closing share price of $11.49 as of Tuesday. Windstream will also assume $267 million in Q-Comm debt. Contingent upon receipt of FCC and other required approvals, the companies hope to complete the transaction by year’s end. Windstream CEO Jeff Gartner applauded the agreement as one that “builds upon Windstream’s strategy to become a next-generation telecom provider focused on broadband and enterprise customers.”