Birch Completes $323M Cbeyond Acquisition
ATLANTA -- Birch Communications, Inc., a leading provider of business focused communications, cloud and managed services based in Atlanta announced today it has completed its previously announced acquisition of Cbeyond in an all-cash transaction valued at approximately $323 million.
As a result of this acquisition, the common stock of Cbeyond is no longer listed for trading on the NASDAQ. The transaction has been unanimously approved by the boards of directors of both companies, and follows several months of federal and state regulatory review.
Birch's 21st acquisition since 2006 creates a nationwide communications, cloud and managed services provider with approximately $700 million in annual revenue and approximately 200,000 business customers located in all 50 states, the District of Columbia, Canada and Puerto Rico.