Matrix Telecom, a competitive provider targeting primarily SMBs and residential customers that's owned by Platinum Capital, has completed its acquisition of Excel Telecommunications from Denham Capital.
Although the financial details of the deal were not disclosed, a group of Platinum in-house operations specialists will work with Matrix and Excel management to integrate the two businesses. When this process is complete, Excel's services will be marketed under their current brand names.
Charles G. "Chuck" Taylor, Jr., President and CEO of Matrix, said that "Excel provides Matrix with complementary network coverage, state-of-the art switching, loyal and valued customers and an experienced, customer-centric work force. Matrix and Excel are a perfect fit."
Amidst the global economic downturn, Matrix's acquisition of Excel is its third acquisition in three years and a sign of ongoing consolidation of the competitive service provider market segment. Previously, it bought out the small business group of Global Crossing in 2006 and Trinsic Communications in 2007.
- see the release here
Comptel 2010: Matrix Telecom snaps up Excel Telecommunications