CTC Communications to buy Conversent
Some two months after merger between CTC Communications and Choice One Communications was completed, the local exchange carrier announced it will acquire Conversent Communications Inc. of Marlborough, Mass.
Financial details of the deal were not provided, though the combined companies generate about $800 million in annual revenue.
The acquisition would be partially funded with an equity investment from Columbia Ventures Corp. — sole shareholder of CTC Communications — and a corresponding equity investment from existing Choice One shareholders or their affiliates.
CTC became the largest competitive local exchange carrier in New England with its acquisition of Lightship Telecom of Bedford, N.H., last May, and its merger with Choice One brought additional access to New England, as well as customers in the Midwest. With the acquisition of Conversent, the companies add an expanded footprint in the Mid-Atlantic region, particularly West Virginia. – NHBR STAFF