Corvis Corp., the parent company of Broadwing Communications LLC, on Thursday announced closing the acquisition of Focal Communications Corp. in a $189 million agreement.
The acquisition gives Broadwing Communications approximately 4,000 enterprise and wholesale customers in 23 U.S. markets, Corvis said.
For fiscal year 2003, Focal reported approximately $320 million in revenue.
The combined Broadwing/Focal communications services networking business will operate under the name of Broadwing Communications, LLC following regulatory approvals.
Corvis acquired Focal for approximately $88 million in equity that was issued to Focal's current equity holders and the assumption or payment of approximately $101 million of debt and other long-term capital lease obligations.
