MINNEAPOLIS, MN – Marketwired – Aug 4, 2015 – Onvoy, LLC, a leading provider of wholesale telecommunication services, announced today that it has entered into a definitive agreement to acquire privately-held Broadvox, LLC, a CLEC focused on providing wholesale VoIP services. The deal is expected to close in early September.
With the addition of Broadvox, the Onvoy network will grow to 5,000 rate centers and expand coverage from coast to coast. Onvoy’s customers will have immediate access to over 80% of all US households.
Executives at both companies agree that the enhanced coverage and combined workforce will mean more opportunities for current customers as well as a clear path for the company’s continued growth into new markets.
“As part of an acquisition strategy that will propel our business forward over the next several years, Broadvox is a natural fit for Onvoy. The combined economies of scale will give us a solid foundation for future growth and expansion,” said Fritz Hendricks, President of Onvoy and a 30-year veteran of the industry. “We look forward to working with the talented Broadvox team.”
“This is definitely a case where the sum of the combined companies is significantly greater than if we stood alone,” said Andre Temnorod, Founder and CEO of Broadvox. “Now, we’ll be able to meet the communication needs of virtually any carrier or service provider in the country. Our team is excited about Onvoy’s strategy and the company’s ambitious plans for future growth.”
The combined entity will serve an impressive customer portfolio, with minimal overlap, that includes major wireless, cable, telecom, next generation VoIP and enhanced service providers. The addition of Broadvox’s rate centers will allow customers to expand their reach while all customers benefit from the personalized experience and reliability on which Onvoy has built its reputation.
Denver-based investment bank, Q Advisors, served as the exclusive financial advisor to Broadvox.