Momentum Telecom completes $28.7M acquisition of Alteva, enhances Northeast U.S. reach

Momentum Telecom has wrapped up its $28.7 million acquisition of Alteva, enhancing its Northeast service presence.

As a combined company, Momentum Telecom will have more than 400 employees.

From a services point of view, the acquisition will expand Momentum's offering to include Microsoft (NASDAQ: MSFT) Lync, integration with multiple CRM applications such as and Microsoft Dynamics, Interactive Voice Response, SMS messaging, and customized MPLS integration.

Momentum will also expand its reach to more than 350,000 users spanning 14 countries and add deep experience in several vertical markets including healthcare, legal, financial services and retail as well as integration with inContact's contact center solution.

The service provider originally announced its intent to acquire Alteva in September. Under the terms of the agreement, Alteva's shareholders received $4.70 per common share.

Alteva's Philadelphia headquarters will continue to serve as the Northeast regional office for Momentum Telecom.

This is an interesting outcome for Alteva. After taking over the reins of what was the former rural telco Warwick Valley Telephone in 2009, the 110-year-old telco began a journey of becoming a cloud services player when it purchased USA Datanet. Later, it purchased Alteva, which was adopted as its name.

In addition to providing cloud services under its Unified Communications as a Service (UCaaS) division, it continues to offer traditional telephone and broadband services through its residential unit.

For more:
- see the release

Related articles:
Alteva rejects $8 share takeover bid, adopts shareholder rights plan
Alteva adds cloud, free calling capabilities to its SIP trunking product set
Alteva crafts UCaaS product for the law firm segment
Unified communications breathes new business revenue life into rural telcos


Like this story? Subscribe to FierceTelecom!

The Telecom industry is an ever-changing world where big ideas come along daily. Our subscribers rely on FierceTelecom as their must-read source for the latest news, analysis and data on the intersection of telecom and media. Sign up today to get telecom news and updates delivered to your inbox and read on the go.

Suggested Articles

The battle for SD-WAN supremacy remains fierce among vendors with VMware, Cisco and Fortinet holding down the top-three spots in Q3 market share.

Broadband remains a key asset as the coronavirus surges across the globe, which has led to a speedier transition to 1-Gig services.

Lumen CTO Andrew Dugan believes enterprise CIOs are turning to edge compute because it provides better performance for their applications.