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Windstream Sells Consumer EarthLink Business for US$330 Million
Jan. 02, 2019 08:45AM PST
Data InvestingWindstream (NASDAQ:WIN) announced that it has sold its legacy consumer internet business, Earthlink to Trive Capital for US$330 million. As quoted in the press release: Windstream acquired the business in its merger with EarthLink in February 2017. Trive Capital, a Dallas-based private equity firm, purchased the business for $330 million in cash. “This transaction enables …
Windstream (NASDAQ:WIN) announced that it has sold its legacy consumer internet business, Earthlink to Trive Capital for US$330 million.
As quoted in the press release:
Windstream acquired the business in its merger with EarthLink in February 2017.
Trive Capital, a Dallas-based private equity firm, purchased the business for $330 million in cash.
“This transaction enables us to divest a non-core segment and focus exclusively on our two largest business units. In addition, it improves our credit profile and metrics in 2019 and beyond,” said Tony Thomas, president and CEO of Windstream.
The legacy EarthLink consumer internet business offers internet access, online back-up, managed web design, web hosting and various email services to over 600,000 customers throughout the United States.
“We are excited to partner with and support the EarthLink management team in continuing to provide great products and services available to millions of households in the United States,” commented Trive Managing Partner, Conner Searcy. “We intend to provide additional resources and access to deep industry relationships to help grow the brand in the coming years.”
Click here for the full text release.
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