Windstream, a leading provider of advanced network communications, has signed a definitive agreement to acquire Broadview Networks for $227.5 million in cash.
Broadview is a leading provider of cloud-based unified communications solutions to small and medium-sized businesses. The company offers a broad suite of cloud-based services under the OfficeSuite UC brand.
Windstream said it expects to realize approximately $30 million in annual operating synergies within two years. The transaction will improve Windstream’s balance sheet by reducing leverage through realization of synergies and will be accretive to free cash flow in the first year.
The boards of both companies unanimously approved the transaction. The transaction is expected to close in the third quarter of 2017, subject to customary closing conditions, including receipt of necessary federal and state regulatory approvals.