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 SalesForce.com 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.
- see the release
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