PAETEC Communications Inc. on Tuesday announced an agreement to purchase American Long Lines Inc., a telco serving SMB customers in the mid-Atlantic region.
The agreement includes the facilities, employees and customer base of American Long Lines, which reported revenue of $24.5 million and net income of $1 million in 2003, according to PAETEC. Financial terms of the agreement were not revealed.
"This agreement is a great strategic fit for us as it enhances our business model with further penetration in the Philadelphia and New Jersey markets," PAETEC COO Brad Bono said in a press release. "We also look forward to adding a high level of industry skills and expertise through the American Long Lines employees that will join PAETEC."
Fairport, N.Y.-based PAETEC expects the agreement to close in the first quarter of 2005 following regulatory approvals and other closing conditions.
