& cplSiteName &

Silver Points Buys CLEC

Light Reading
News Wire Feed
Light Reading
1/30/2007
50%
50%

DALLAS -- Sage Telecom, Inc. ("Sage") today announced that it has signed a definitive agreement to be acquired by Silver Point Capital ("Silver Point"), a global private investment firm. The transaction, which is subject to regulatory approvals and other customary conditions, is expected to close during the second quarter of 2007. Financial terms were not disclosed.

Sage is one of the nation's largest competitive local exchange carriers (CLEC) focused on residential and small business customers in suburban and rural communities. The privately-held company serves customers across 12 states and is known for its cost-effective local, long distance and Internet services, simple and easy-to-understand calling plans and quality customer service.

In conjunction with the proposed transaction, the Sage Board of Directors and Silver Point have engaged CXO, L.L.C. ("CXO"), a Dallas-based management and advisory services firm, to oversee certain business operations in conjunction with Sage management during the regulatory approval and transition phase. Brian Kushner will lead CXO's activities at Sage, bringing to the company more than two decades of executive management and operations expertise as well as a depth of telecommunications experience. Chris Williams, Sage's President and Chief Financial Officer, will lead the company during the regulatory approval process.

"With the backing of a strong financial partner, Sage is ideally positioned to expand its offerings and take advantage of future growth opportunities," said Brian Kushner of Sage Telecom and CXO. "Sage remains committed to being a value and service leader, providing customers with more choices for affordable telecommunications services."

Sage Telecom Inc.

(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Featured Video
Flash Poll
Upcoming Live Events
October 23, 2018, Georgia World Congress Centre, Atlanta, GA
November 6, 2018, London, United Kingdom
November 7-8, 2018, London, United Kingdom
November 8, 2018, The Montcalm by Marble Arch, London
November 15, 2018, The Westin Times Square, New York
December 4-6, 2018, Lisbon, Portugal
March 12-14, 2019, Denver, Colorado
April 2, 2019, New York, New York
May 6-8, 2019, Denver, Colorado
All Upcoming Live Events
Partner Perspectives - content from our sponsors
One Size Doesn't Fit All – Another Look at Automation for 5G
By Stawan Kadepurkar, Business Head & EVP, Hi-Tech, L&T Technology Services
Prepare Now for the 5G Monetization Opportunity
By Yathish Nagavalli, Chief Enterprise Architect, Huawei Software
Huawei Mobile Money: Improving Lives and Accelerating Economic Growth
By Ian Martin Ravenscroft, Vice President of BSS Solutions, Huawei
Dealer Agent Cloud – Empower Your Dealer & Agent to Excel
By Natalie Dorothy Scopelitis, Director of Digital Transformation, Huawei Software
All Partner Perspectives