Altice buying northwest N.J. cable system Service Electric

Altice USA, the communications company that provides TV and internet services through the Optimum brand in the region, has agreed to buy the assets of cable operator Service Electric Cable TV of New Jersey Inc. for $150 million, it announced this week.

Sparta-based Service Electric is part of a Pennsylvania-based regional cable company, and serves a portion of northwest New Jersey.

Altice said the deal would expand its presence in New Jersey to thousands of additional homes and businesses.

The transaction is expected to close in the third quarter, subject to customary approvals and conditions.