Northeastern CLEC Broadview going public
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Broadview Networks, a Northeastern competitive local exchange carrier (CLEC), is going public.
The company is hoping to raise up to $287.5 million, according to documents filed Friday.
Broadview offers voice and data services, including T-1s and IP services, to small and medium businesses in ten Northeastern states: New York, Pennsylvania, Massachusetts, New Jersey, Rhode Island, New Hampshire, Maryland, Delaware, Virginia (including the District of Columbia) and Connecticut.
The 11-year-old company has made two acquisitions in the past two years. A year ago, it acquired ATX, a provider of hosted and managed voice and data offerings with a particular focus on the Philadelphia market. (The ATX integration is “nearly complete” today, Broadview said in filings last week.) In May of this year, the company acquired InfoHighway, another voice and data host and manager, with 500 lit buildings in the New York metropolitan area.
Broadview reported nearly $326 million in revenue for the first nine months of this year, which included revenue from ATX and InfoHighway. The company claims $313 million in total capitalization and $314 million in total debt.
The company’s network now includes 246 collocations and 2500 route-miles of metro and long-haul fiber. About two thirds of its lines are provisioned over its own facilities.
It employs 1270 people, including 150 quota-bearing salespeople.
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