Broadview Networks Holdings Inc. is buying New York-based InfoHighway Communications Corp.
Terms of the deal were not disclosed, as both companies are privately held. Broadview did say the transaction should close in the second quarter.
Buying InfoHighway gives Broadview a footprint in New York, extending overall coverage from to 20 markets from Maine to Virginia, including major metro areas such as Philadelphia, Boston and the Baltimore-Washington corridor.
The combined company whose name has not been announced will serve approximately 80,000 SMBs, Broadview said. The new capabilities include an IP platform that supports MPLS, metro Ethernet throughout major hubs and more than 2,300 route miles of fiber.
Broadview said, together it and InfoHighway generated more than $500 million in 2006.
Last year, Broadview bought ATX Communications, which had customers in Pennsylvania, New Jersey, Delaware, Maryland, Virginia and the District of Columbia. With InfoHighways 12,000 business customers in New York, Broadview gains density in a bustling market.
This addition to the Broadview family increases our technological assets and expertise, giving us more competitive offerings to meet the growing demand for communications infrastructure, security, and productivity solutions among small and mid-size businesses, said Michael Robinson, president and CEO of Broadview, in a news release. We will have robust direct and indirect sales channels and significant market density, particularly in New York, Pennsylvania and New England.
In August 2005, InfoHighway and Eureka Networks merged. Then, in April 2006, the combined company bought Future Telecom, a voice and data reseller in New York. InfoHighway is a former UNE-P CLEC; Eureka was a facilities-based carrier.
We firmly believe the combined entity will have the resources, people, and capabilities to be the leading solutions provider in what is among the largest business communications corridors in the world, said Raul Martynek, president and CEO of InfoHighway.
There was no immediate word on who will lead the new company.
Willkie Farr & Gallagher LLP represented Broadview Networks, while DH Capital LLC served as financial advisor to InfoHighway Communications.
Broadview Networks Holdings Inc. www.broadviewnet.com
InfoHighway Communications Corp. www.infohighway.com
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