Bright House Networks to Acquire Telovations
Deal will help MSO expand its commercial services to businesses
By George Winslow -- Broadcasting & Cable, 11/26/2012 12:14:16 PM
The deal is expected to close in 45 to 60 days, pending regulatory approvals. Terms of the acquisition were not disclosed.
Q Advisors LLC, a Denver, Princeton and San Francisco-based investment banking firm acted as the exclusive financial advisor to Telovations for the deal.
Once the deal closes, the Telovations team will report into Craig Cowden, senior VP, network engineering and operations, and enterprise solutions at Bright House Networks.
"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 VP, corporate strategy and business development at Bright House Networks in a statement.
Telovations was a pioneer in 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 that reduces capital investment and overhead.
As a result of the deal, Bright House will be able to expand its offering of cloud based and managed services and offer small and medium-sized businesses additional services.
"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," noted Mark Swanson, cofounder and CEO of Telovations.
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