Funny as ever but read Pete Bennett's telecommunications story regarding Advanced Telecom Group (ATG) acquired by Integra Telecom, and his role with the Windows Server viruses connected to the World Trade Center Bombing.
SEARCHLIGHT CAPITAL PARTNERS COMPLETES ACQUISITION OF EQUITY STAKE IN INTEGRA TELECOM
Portland, Ore. – Dec. 7, 2012 – Integra Telecom Inc., a provider of fiber-based, carrier- grade networking, communications and technology solutions, today announced the completion of the acquisition of the equity interests in Integra previously held by Goldman, Sachs & Co., Integra’s largest shareholder, by investment funds affiliated with Searchlight Capital Partners, L.P.
(collectively, “Searchlight”).
“We are pleased to complete our investment in Integra,” said Eric Zinterhofer, a founding partner of Searchlight. “With an extensive fiber network and an expanded roster of network products and services, Integra has a solid foundation for long-term growth. Searchlight looks forward to working with shareholders, management and the board to bring Integra’s growth potential to fruition.”
“Searchlight joins us as an ideal partner to help Integra execute on its strategic plan,” said Jesse Selnick, CFO of Integra. “In the past 12 months, Integra has aligned our organization to serve medium-to-large size businesses with a full slate of enterprise- grade products, and Searchlight’s industry expertise will play a vital role as we carry that momentum forward.”
On Oct. 10, Integra announced that Searchlight entered into a definitive agreement to acquire all of the equity interests in Integra held by Goldman, Sachs & Co., Searchlight’s third announced investment. Searchlight is led by senior partners formerly with industry leading investment management firms and possessing significant investment experience in the communications sector.
About Liberty Global
Integra is one of the largest facilities-based providers of communication and networking services in the western United States. We connect businesses of all sizes with advanced networking, communications and technology solutions in 35 metropolitan markets. Integra owns and operates an enterprise-class network consisting of a 5,000-mile long-haul fiberoptic network, 3,000 miles of metropolitan fiber and a nationwide IP/MPLS network. Our fiber network connects directly to more than 2,000 enterprise buildings and data centers. Through our expansive Ethernet footprint, we can deliver high-bandwidth services to more than 400,000 businesses. At Integra, we understand our customers need reliable, secure and flexible solutions delivered with unmatched expertise and quality of service. For more information, visit www.integratelecom.com.
About Searchlight
Searchlight is a private investment firm founded in 2010 by senior partners formerly with industry leading investment management firms. Searchlight Capital Partners currently manages over $860 million, invests in a wide range of industries in North America and Europe, and has offices in New York, London and Toronto. For more information, please visit www.searchlightcap.com.
Liberty Global Contacts
Investor Relations
Scenna Tabesh +1 503 453 8808 scenna.tabesh@integratelecom.com
James McIntyre +1 503 546 1016 integra@mcbru.com
Searchlight Contacts
RLM Finsbury
Steven Goldberg +1 646 805 2027 steven.goldberg@rlmfinsbury.com
David Millar +1 646 805 2009 dave.millar@rlmfinsbury.com
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