Thursday December 2, 7:00 am Eastern Time
Company Press Release
SOURCE: Convergent Communications Services, Inc.
Convergent Communications Acquires Classic Datacom Assets
- Increases Number of Fully-Converged Data and Voice Markets to 17 - Adds Data Capabilities to Boston, Stamford and Hartford Markets
ENGLEWOOD, Colo., Dec. 2 /PRNewswire/ -- Convergent Communications(TM) (Nasdaq: CONV - news), an Enterprise Network Carrier providing single-source business communication solutions, has acquired the assets and assumed certain liabilities of New England-based Classic Datacom for approximately $2.65 million in combined cash and stock.
``Classic Datacom is an ideal data overlay opportunity for our three New England-area branches,' said John R. Evans, chairman and chief executive officer of Convergent Communications. ``Adding their expertise to our voice-centric operations in Southern Connecticut (Stamford), Hartford and Boston provides clients the benefit of using a single-source provider for expanded data and voice services, and the option to outsource a total communications solution.'
The acquisition of the assets of the 11-year-old New England data integrator enables Convergent Communications to operate with 17 ``fully-converged' national markets, where the company has combined data and voice skill sets.
Based in Hartford, Conn., Classic Datacom offers complete data solutions -- from design and configuration to sales, installation and services -- to a customer base that includes prominent companies and organizations in New England. An original Cisco Premier Partner, Nortel Networks Enterprise Solutions Partner and Motorola Platinum Partner, Classic Datacom reported $6.5 million in revenue in 1998. Classic Datacom reported year-to-date revenue of $7.2 million through the third quarter of 1999.
The acquisition allows Classic Datacom's 24 existing employees to join Convergent Communications' New England team, and adds an active customer base of more than 100.
``We had been looking for a strategic partner who could help leverage our growth potential, ' said Gregory D. Brainerd, president of Classic Datacom. ``Joining Convergent Communications gives us the cross-selling and up-selling platform necessary for continued aggressive growth and market penetration in New England.' |
