Bright House Networks Inks Agreement to Acquire Telovations
Dec 03, 2012 (Close-Up Media via COMTEX) --
Bright House Networks announced that it has signed an agreement to acquire the business of Telovations, a Tampa, Florida-based Cloud Communications provider that delivers businesses hosted voice solutions, including PBX and managed SIP trunking.
According to a release, the acquisition will help Bright House Networks to meet the diverse needs of the enterprise market with cloud based and managed services, as well as continue to offer small and medium sized businesses additional services. Telovations pioneered the delivery of "Communications-as-a-Service" (CaaS), which enables businesses to deploy communications devices and applications on a pay-as-you-go, as-needed basis, eliminating the need for capital investment and ongoing overhead.
"We welcome this collaborative opportunity to combine our fiber optic network and managed services offerings with Telovations' cloud-based unified communications services to provide companies with a much broader array of network capabilities and industry-leading services," said Leo Cloutier, senior vice president, Corporate Strategy and Business Development, Bright House Networks.
"We are thrilled to be joining Bright House Networks as we share a common passion for serving customers," said Mark Swanson, co-founder and CEO of Telovations. "The combination of Telovations' innovative Cloud-based Unified Communications offerings and Bright House's fiber network and broader portfolio of managed services will provide customers some of the most advanced business communications capabilities in the nation." Following the close of the acquisition, the Telovations team will report into Craig Cowden, senior vice president, Network Engineering & Operations, and Enterprise Solutions, Bright House Networks.
The transaction is expected to close within 45-60 days, pending regulatory approvals. Q Advisors LLC, a Denver, Princeton and San Francisco based investment banking boutique, acted as the exclusive financial advisor to Telovations in connection with the transaction.
Bright House Networks is an owner and operator of cable systems in the U.S.
Telovations is a next-generation managed service provider of business communications in a Software-as-a-Service model referred to as "Communications-as-a-Service" or CaaS.
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