Xconomy | Boston - Business + Technology in the Exponential Economy

M/C Gains in NuVox Sale

Boston’s M/C Venture Partners is the big winner in the $647 million sale of NuVox, a Greenville, SC-based provider of business telecommunications services, to Windstream Corporation (NASDAQ: WIN), a deal announced yesterday. In a press release yesterday, M/C said that it became NuVox’s largest shareholder after NuVox absorbed M/C portfolio companies NewSouth in 2004 and Florida Digital Network in 2007. Little Rock, AR-based Windstream, which provides phone, Internet, and digital TV service to customers in 21 states, paid $280 million in cash and $187 million in stock to acquire NuVox, and also repaid $180 million in NuVox’s outstanding debt.

Wade Roush is Xconomy's chief correspondent and editor of Xconomy San Francisco. You can e-mail him at wroush@xconomy.com, call him at 415-796-3024, or follow him on Twitter at twitter.com/wroush.

Comments | Reprints | Share: