Private investment firm Silver Point Capital will acquire Sage Telecom Inc.
Financial terms of the deal, which is expected to close during the second quarter of 2007, were not disclosed.
Allen, Texas-based Sage is a CLEC serving residential and small business customers in suburban and rural communities. The privately held company provides local, long-distance and Internet services in 12 states.
Sage and Silver Point will use CXO, a Dallas-based management and advisory services firm, to oversee certain business operations with Sage management during the regulatory approval and transition phase of the acquisition.
Sage said it will continue to provide service plans from its headquarters and service partner locations throughout its operating territory.
“With the backing of a strong financial partner, Sage is ideally positioned to expand its offerings and take advantage of future growth opportunities,” said Brian Kushner, who is leading CXOs business at Sage.
Sage Telecom Inc. www.sagetelecom.net
Silver Point Capital