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Dobson Makes a Purchase

It pays $95 million.

Dobson (DCEL) strikes while the business is hot.

The Oklahoma City wireless telco says its subsidiary

American Cellular

will pay $95 million for closely held

TheStreet Recommends

Highland Cellular

.

Highland operates in West Virginia and Virgina in markets adjacent to American Cellular and Dobson.

Highland has 50,000 subscribers and Dobson says the acquisition will nearly double Dobson's market population in West Virginia.

The news comes as Dobson shares surged $1.30, or 19%, to $8.04 Thursday after the company announced Wednesday that it saw better than expected subscriber gains in the third quarter.