ICG Communications Inc., which has been eager to shed many of its assets as it restructures its business plan, is selling five markets to Xspedius Communications LLC, a CLEC.
Xspedius is buying ICGs Atlanta and Birmingham, Ala., markets, along with Charlotte, N.C., Louisville, Ken., and Nashville, Tenn., for an undisclosed amount of money. Through the deal, Xspedius will obtain ICGs customers, access to 194 buildings, more than 500 fiber miles, and network facilities and assets. It also means Xspedius will enter the IP-hosted arena because it is buying ICGs VoicePipe service.
The companies also signed a management agreement that allows Xspedius to assume immediate control of ICG’s business in each city, even though the acquisition deal will not close for up to 75 days. Xspedius says it will place ICG employees into its local market operations.
This agreement will enable small and midsized businesses in these markets to realize benefits from Xspedius’ significant local presence and commitment to these markets, says Mark Senda, president and CEO of Xspedius. Similarly, our carrier customers in these markets will gain from our expanded reach through the additional fiber, buildings and local service office colocations we are acquiring.
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June 25 2019 @ 16:25:30 UTC