Bright House Networks said Monday that it has agreed to purchase Telovations, a business services provider based in Tampa, Fla. Terms of the deal were not disclosed.
Telovations provides cloud communications services including PBX and managed SIP trunking to business customers. The acquisition will help Bright House expand its offerings to business customers. Telovations pioneered the delivery of “Communications-as-a-service” (CaaS), which allows businesses to deploy communications devices and applications on a pay-as-you-go, as- needed basis, eliminating the need for capital investment and ongoing overhead.
"We welcome this collaborative opportunity to combine our fiber optic network and managed services offerings with Telovations' cloud-based unified communications services to provide companies with a much broader array of network capabilities and industry-leading services," said Bright House senior vice president, Corporate Strategy and Business Development Leo Cloutier in a statement.
Following the close of the acquisition, the Telovations team will report into Bright House senior vice president, Network Engineering & Operations, and Enterprise Solutions, Craig Cowden.
"We are thrilled to be joining Bright House Networks as we share a common passion for serving customers," said Telovations co-founder and CEO Mark Swanson in a statement. "The combination of Telovations' innovative Cloud-based Unified Communications offerings and Bright House's fiber network and broader portfolio of managed services will provide customers some of the most advanced business communications capabilities in the nation."
The deal is expected to close in the next 45 to 60 days, pending regulatory approvals. Investment banker Q Advisors LLC, served as the exclusive financial advisor to Telovations.