📅 - Broadwing Communications LLC (broadwing.com) announced on Friday it has acquired Focal Communications Corporation, a Chicago-based local exchange carrier.
Broadwing says the acquisition expands the company's customer base, network reach and portfolio of voice, data and video network services, and approximately 4,000 enterprise and wholesale customers in 23 Tier-One markets throughout the US. Focal provides Broadwing with a local access network with a state-of-the-art switching infrastructure and network operations center, as well as a metropolitan fiber in nine major markets After regulatory requirements have been satisfied and all regulatory approvals have been received, 60-90 days after the close of the transaction, the combined Broadwing and Focal Communications services networking business will operate under the name of Broadwing Communications LLC. Broadwing's parent company Corvis Corp. acquired Focal for approximately $189 million, including approximately $88 million in equity that was issued to Focal's existing equity holders and the assumption or payment of approximately $101 million of Focal's debt and other long-term capital lease obligations. Focal reported approximately $320 million in revenue for 2003.
Reads: 1985 | Category: General | Source: TheWHIR : Web Host Industry Reviews URL source: http://www.thewhir.com/marketwatch/bro090304.cfm
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Reads: 1985 | Category: General | Source: TheWHIR : Web Host Industry Reviews