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August 1, 2006
Integra Telecom announced on Tuesday that it has completed its acquisition of Electric Lightwave, which is now a wholly owned subsidiary of the company.
The agreement included $243 million in cash plus the assumption of $4 million in capital leases.
The combined company generates more than $300 million in annual revenue from thousands of business customers across its eight-state service area, including Arizona, California, Idaho, Minnesota, North Dakota, Oregon, Utah and Washington. It will be headquartered in Portland, Ore., and employ approximately 1,000 telecommunications professionals, operating metropolitan area fiber networks representing more than 2,200 route miles as well as a 4,700-mile long-haul fiber network. The combined company will operate under the Integra Telecom name. The company said that going forward the Electric Lightwave name will refer only to the companys carrier-to-carrier network services and sales operation.
The combined companys small to mid-sized business customers who have been served by Electric Lightwave will receive welcome kits from Integra Telecom and will see the new company brand name on all company communications. The company said that customers current services and rates will not be affected by the transaction.
Read more about:Agents
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