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NuVox Communications and FDN Communications Close Merger
Jun 13, 2007 (10:06 AM EDT)
GREENVILLE, S.C. and MAITLAND, Fla., June 13 /PRNewswire/ -- NuVox Communications and FDN Communications, two privately held, facilities-based communications providers, today announced they have completed their merger. The new company will eventually provide service to all of its customers under the name NuVox Communications. NuVox will offer IP-based communications solutions including voice, data connectivity and storage, private networking, web hosting, and security services to business customers across the Southeast and the Midwest. The combined enterprise will initially have more than 90,000 customers, 1 million voice and data lines in service, and annual revenues exceeding $500 million.
"The combination of our two companies greatly accelerates our ability to grow by delivering absolutely outstanding communications solutions for business customers," stated Jim Akerhielm, Chief Executive Officer of NuVox Communications. "I am particularly excited about the new combined team. Both NuVox and FDN have strong records of providing exceptional customer service, and together, I am confident our business will thrive across our 16-state footprint."
"This merger ensures our long-term ability to provide a robust, relevant product set and unmatched customer care. We are well positioned to support our growing customers and their advancing technical needs," added Mike Gallagher, President of Strategic Markets for NuVox and former CEO of FDN Communications.
The senior management team will be comprised of individuals from both FDN Communications and NuVox. Leading the combined company will be Akerhielm, who will serve as CEO, and Gallagher who will serve as President of Strategic Markets. In addition, Stephen H. Shoemaker will serve as Chief Financial Officer; Charles J. Norris will serve as Chief Operating Officer; and Riley M. Murphy will serve as General Counsel and Secretary.
The board of directors will consist of David Solomon as Chairman of the Board, Akerhielm, Gallagher, Jim Wade of MC Venture Partners, Robert Savignol of MC Venture Partners, Jim Fleming of Columbia Capital Partners, James H. (Jamie) Greene, Jr. of Kohlberg Kravis Roberts and Co. (KKR), and Scott Perper of Wachovia Capital Partners.
Customers of both NuVox Communications and FDN Communications will not experience changes to their existing service agreements as a result of the close of the merger. The combined company's headquarters will be in Greenville, SC with extensive sales, customer service, and technical operations in both Greenville, SC and Maitland, FL. Financial terms of the merger were not disclosed.
About NuVox Communications:
NuVox Communications provides voice, data, and security services to business customers in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, Ohio, Oklahoma, South Carolina, and Tennessee. These services are provided through advanced Alcatel-Lucent, Nortel, Sonus, and Cisco technology. NuVox has been honored as a certified Cisco Powered Network. NuVox's VoIP services are delivered via technology from Cisco, Sonus, Sylantro, IP Unity, and Acme Packet. For more information, visit www.nuvox.com .
About FDN Communications: Headquartered in Maitland, Florida, FDN Communications has been providing facilities-based, business-class communications services in the Southeastern United States for nearly a decade. Serving tens of thousands of satisfied customers with over a quarter million telephone and Internet lines, FDN presents tailored solutions for today's communication challenges. To learn more about FDN, visit www.fdn.com .
Certain statements in this release may constitute "forward-looking statements." When used in this release, words like "may," "will," "can," "should," "expect," "anticipate," "believe," "project," or "intend" and other similar expressions are intended to identify forward-looking statements. Statements regarding future events and developments and future performance, as well as our expectations, beliefs, plans, or projections, are forward-looking statements which reflect only our predictions, assumptions, and estimates regarding future events and circumstances. Actual events or results may differ substantially as a result of risks and uncertainties facing us, including those regarding the continued development of the combined company's business, markets for the combined company's services and products, continued availability and sufficiency of capital, the risk that the merger will not be completed, the ability of NuVox and FDN Communications successfully to integrate their businesses, the combined company's degree of financial leverage, the ability to establish and maintain relationships with incumbent local telephone companies and to secure transmission capacity, the impact of competitive services, pricing and alternative technologies, negative economic factors, regulatory requirements and uncertainties, and acquisitions and other strategic investments. The forward-looking statements are based on current expectations as of the date of these statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information, or otherwise.
CONTACT: Susanne Hite for NuVox Communications, +1-864-672-5097, email@example.com; or Tina Lange for FDN Communications, +1-407-835-0340,
Web site: http://www.nuvox.com/