Suddenlink Chairman and CEO Jerry Kent says the acquisition of his company announced Wednesday is a testament to the company’s strong operating and financial results.  Altice announced it has agreed to acquire 70% of Suddenlink.

The transaction is expected to close in the fourth quarter of 2015 once applicable regulatory approvals have been obtained.

“I’m very proud of the Suddenlink team and our accomplishments over the last 12 years,” Mr Kent said in a news release issued in response to the announcement. “This acquisition is a testament to the consistently strong operating and financial results we’ve achieved.

“While our strong performance has afforded Suddenlink ready access to growth capital, the backing of Altice will better position the company to gain critical scale as a major consolidator in the U.S. cable industry.”

There are no details available about any possible changes that might come about in either service or employment. A company spokesman said Wednesday that in the short term there will be no such changes.

Mr Kent’s news release offers a glimpse at the Suddenlink CEO’s future.

“For my part, after the acquisition is completed, I’ll continue to focus on other businesses, through my investment and management company, Cequel III. Throughout my entrepreneurial career, I’ve been excited and energized by seeking new opportunities and companies, and I look forward to the next chapter.”

Altice said it had signed a definitive agreement to acquire 70% of the share capital in Suddenlink from existing shareholders BC Partners, CPP Investment Board and Suddenlink management. BC Partners and CPP Investment Board will retain a 30% stake in Suddenlink.

The announcement from Altice points out the company is now entering “the large and attractive US cable market.”

CEO Dexter Goei called Suddenlink a “best-in-class” business.

“We are very excited about the acquisition of Suddenlink and are highly committed to continue to improve network investment, customer offers and service innovation in the attractive US market.”

“Our investment in Suddenlink, our first in the cable sector in the US, opens an attractive industrial and strategic avenue for Altice in the US, one of the largest and fastest growing communications markets in the world. We are looking forward to our partnership with BC Partners and CPP Investment Board and believe Suddenlink is a best-in-class business that should be able to deliver profitability and cash flow levels in line with best-in-class European cable businesses.”