Xspedius Communications has agreed to purchase ICG Communications' local telecom business in five Southeastern markets for an undisclosed amount of cash.

Xspedius will acquire ICG's operations in Atlanta; Birmingham, Ala.; Charlotte, S.C.; Louisville, Ky. and Nashville. The assets include less than 20 employees and more than 500 route miles of fiber connected to 194 buildings, ICG said.

ICG expects the deal to close within the next 75 days.

Following this transaction, ICG will serve eight markets in Ohio and Colorado: Akron, Ohio; Cincinnati; Cleveland; Columbus; Dayton; Denver; Colorado Springs, Colo. and Boulder, Colo.

"We're not looking to sell those [Ohio] properties," an ICG spokesman said, "but if there are offers, we'll consider them."

In January, ICG sold its operations in five Texas markets to Tel West Network Services. That transaction has not yet closed, ICG said.