Thursday, July 27, 2006
Time Warner Telecom Buys Xspedius For $531.5M
Littleton, Colorado-based Time Warner Telecom has acquired Xspedius Communications, a provider of telecommunications services nationwide, the first said late this evening. Time Warner said it will pay $531.5M for the firm, including $212.5M in cash and $319M in shares of Time Warner Class A stock. Xspedius provides metro Ethernet, local and long distance, data, and dedicated Internet access. Time Warner said it expects Xspedius to generate $230 to $250M in revenue in 2007. Xspedius is majority owned by Thermo Capital Partners. Evercore Partners advised Time Warner Telecom, and Brown Brothers Harriman advise as financial advisor to Xspedius.