ICG Communications Will Sell Its Texas Based Business to Tel West Network Services28 January 2005
ICG Communications, a leading facilities-based integrated VoIP and data communications provider, announces an agreement to sell its Texas based business to Tel West Network Services Corporation, a full-service business and residential communications provider
for major metropolitan markets in Arizona, Washington and Oregon. As part of
this agreement, Tel West will become a customer of ICG's wholesale VoicePipe
service.
"This move is consistent with ICG's overall strategy to be an active
participant in discussions that involve geographic consolidation of CLEC
businesses. As a result of this transaction, ICG's path to profitability
improved substantially and our overall cash situation will benefit by several
million dollars," said Dan Caruso, ICG President and Chief Executive Officer.
Jeff Swickard, president of Tel West Network Services, said, "We are
excited and are looking forward to providing the highest quality
telecommunications services and exceptional customer care in Texas. Our
customers are our most important asset."
John Scarano, ICG's executive vice president, added: "Tel West Network
Services is a well run, entrepreneurial business. They are planning to make a
significant investment in Texas, and represent a good alternative for ICG's
Texas customers. Moreover, we are optimistic that success with VoicePipe will
benefit both Tel West and ICG."
Terms of the transaction were not disclosed.
About Tel West:
Tel West Network Services is a full-service business and residential
communications provider for major metropolitan markets in Arizona, Washington
and Oregon and is one of the fastest growing carriers in the West.
About ICG
ICG Communications, Inc. is a premiere business communications company
that specializes in converged voice and data services. ICG has a regional
footprint and extensive metropolitan fiber. ICG products and services
include, voice and Internet Protocol (IP) solutions including VoicePipe(TM)
and iConverge(TM), voice services, dedicated Internet access (DIA), and
private line transport services. ICG provides corporate customers and other
carriers with flexible and reliable solutions.
Source: PR Newswire
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