LITTLE ROCK, Ark., Dec. 18, 2015 (GLOBE NEWSWIRE) -- Windstream (NASDAQ:WIN), a leading provider of advanced network communications, announced today it has completed the sale of its data center business to TierPoint in an all-cash transaction valued at $575 million.
Originally announced on October 19, the transaction includes an ongoing, reciprocal strategic partnership allowing each company to sell its products and services to the other’s prospective customers.
“This transaction enables Windstream to focus capital on our core telecom offerings and pay down debt, while providing expanded data center services to our enterprise customers,” said Tony Thomas, Windstream’s president and CEO. “We expect the divested data center business to continue its growth under our new partnership.”
“We are pleased to welcome the former Windstream Hosted Solutions employees and customers to the TierPoint family,” said Jerry Kent, TierPoint’s chairman and CEO. “This is an exciting step in the growth of TierPoint and significantly enhances the portfolio of services we can offer our customers.”
RBC Capital Markets served as financial advisor and Bryan Cave LP served as legal advisor to Windstream for the transaction. Paul Hastings LLP served as legal advisor to TierPoint. TierPoint’s primary investors include Cequel III, Ontario Teachers’ Pension Plan, RedBird Capital, the Stephens Group, JZ Advisers and Thompson Street Capital Partners.
Windstream Holdings, Inc. (NASDAQ:WIN), a Fortune 500 company, is a leading provider of advanced network communications and technology solutions for consumers, small businesses, enterprise organizations and carrier partners across the U.S. Windstream offers bundled services, including broadband, security solutions, voice and digital TV to consumers. We also provide data, cloud solutions, unified communications and managed services to business and enterprise clients. The company supplies core transport solutions on a local and long-haul fiber-optic network spanning approximately 121,000 miles. Additional information is available at windstream.com. Please visit our newsroom at news.windstream.com or follow us on Twitter at @WindstreamNews.
TierPoint is a leading national provider of cloud, managed services and colocation, helping organizations improve business performance and manage risk. With corporate headquarters in St. Louis, MO, TierPoint operates highly-redundant, carrier-neutral data centers in the states of Washington, Texas, Oklahoma, Pennsylvania, Maryland, New York, Massachusetts, Connecticut and Florida.
Windstream Media Relations Contact: David Fish, 501-748-4898 firstname.lastname@example.org Investor Relations Contact: Mary Michaels, 501-748-7578 email@example.com TierPoint Patrick Baczenas, 314-720-3136
Source:Windstream Holdings, Inc.