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Communications - Thursday, March 22, 2007

IP Biz Services Startups Merge To Form $500M Rev Player

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Greenville, SC's NuVox Communications is merging with Maitland, FL's FDN Communications of Maitland, Fla., in order to form a single facilities-based communications provider. The new company to be named NuVox Communications and will provide IP-based communications solutions including voice, data connectivity and storage, private networking, web hosting, and security services to business customers in the Southeast and the Midwest. The combined company will have more than 90K customers, 1M voice and data lines, and annual revenues exceeding $500M.

NuVox has raised around $495M since i1997 inception, with current shareholders including Goldman Sachs, Quadrangle Group, Columbia Capital, KKR, Wachovia Capital Partners, M/C Venture Partners and J.H. Whitney & Co. FDN has raised around $144M since 1998, with current shareholders listed as M/C Venture Partners, Columbia Capital and Centennial Ventures.

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