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Windstream Completes Sale of Data Center Assets to TierPoint - Transaction Includes Strategic Partnership to Serve Enterprise Customers - TierPointw.com / Windstream.com
Windstream Completes Sale of Data Center Assets to TierPoint

 

PRZOOM - /newswire/ - Little Rock, AR, United States, 2015/12/18 - Transaction Includes Strategic Partnership to Serve Enterprise Customers - TierPointw.com / Windstream.com. NASDAQ: WIN; ELNK

   
 
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Windstream, 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.

About Windstream

Windstream Holdings, Inc. (windstream.com), 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.

About TierPoint

TierPoint (tierpoint.com) 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.

Investor Relations Contact: Mary Michaels
P: 501-748-7578 - E: mary.michaels[.]windstream.com.

TierPoint: Patrick Baczenas, P: 314-720-3136

 
 
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Agency / Source: Windstream Communications

 
 

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Windstream Completes Sale of Data Center Assets to TierPoint

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Contact: David Fish - Windstream.com 
501-748-4898 david.fish[.]windstream.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Windstream Communications securities in any jurisdiction including any other companies listed or named in this release.

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