Windstream announced that it has completed the acquisition of Broadview Networks through a $227.5 million all-cash transaction originally announced April 13th, 2017.
Windstream also announced that following completion of the transaction, Brian Crotty, chief operating officer of Broadview, has been named president of its mid-market and small business division. In addition, the following senior Broadview executives are joining Windstream:
- Mario Deriggi as senior vice president of sales.
- Stephen Farkouh as senior vice president of cloud technology and platform development.
- Sanjay Patel as vice president of platform development.
- Tim Bell as vice president of integration management and Broadview operations.
Windstream stated that after the acquisition of Broadview it expects to realise approximately $30 million in annual operating synergies within two years. The transaction is also expected to improve Windstream's balance sheet by reducing leverage through the synergies and will be accretive to free cash flow in the first year.
Broadview Networks, headquartered in Rye Brook, New York, is a network-based business communications provider serving SMB customers with local and long-distance voice and data communications, patented hosted VoIP systems, data services and a suite of managed and professional services. It also offers a portfolio of bundled, hosted IP phone and cloud computing services. It also offers a suite of cloud-based services under the OfficeSuite UC brand.Regarding the transaction, Tony Thomas, president and CEO of Windstream, commented, "The addition of Broadview advances Windstream's strategy to differentiate by delivering a superior customer experience using disruptive technologies… Broadview's unified communications solution, OfficeSuite, complements Windstream's SD-WAN offering… both are highly scalable, easy to customise and less expensive to deploy than traditional solutions".
