Cincinnati Bell has agreed to acquire eGIX, a competitive local exchange carrier based in Indiana, for about $18 million.

According to Cincinnati Bell, eGIX brings in about $16 million in annual revenue.

Founded in 1988 (as “Voice-Net”), eGIX offers a range of communication products and services to small and medium businesses, including voice, data, unified communications, broadband and integrated T-1s.

According to its Web site, eGIX operates in more than 23 states and 37 of the top 50 metropolitan markets, including Los Angeles, San Francisco, New York, Washington D.C., Chicago and Indianapolis.

In a statement released today, Cincinnati Bell called the acquisition “a natural extension” of the CLEC operations it began in Dayton, Ohio, in 2004.

EGIX has made a string of acquisitions in recent years, including at least three Indiana Internet service providers last year--Kiva Networking, iLectis and Xila Communications--and four acquisitions in 2004.

Earlier this year, Cincinnati Bell acquired a residential triple-play provider based in Lebanon, Ohio, for $7 million in cash.