Mergers and Acquistions News
Categories: Telecoms
February 9th 2010, 16:42PM
Windstream Corporation has announced the acquisition of NuVox, a provider of customised telecoms services, from its parent company M/C Venture Partners in a transaction valued at $647 million (£415 million).
In 2003, M/C Venture Partners contributed to a recapitalisation round of NewSouth Communications and assisted with restructuring the company's debt and equity, before merging it with NuVox in 2004 and then merging CLEC Florida Digital Network into the company in 2007.
Jeff Gardner, president and chief executive officer of Windstream, said the NuVox is a "great strategic fit" for the company and has markets contiguous to Windstream's own properties.
"NuVox is a very strong company that has steadily delivered revenue growth and improved margins," he went on to say.
"These markets have the potential for good growth opportunities in the future."
Business and broadband revenues now represent more than half of Windstream's annual revenues of approximately $3.7 billion (£2.4 billion).
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