Xspedius Strengthens Customer Base, Network Assets Through a Transaction for the Texas Holdings Of Mpower Communications
ST. LOUIS--(BUSINESS WIRE)--Jan. 8, 2003--
New Company Name, Xspedius Communications, More Closely Reflects
Breadth and Depth of Telecommunications and Data Services
Xspedius Management Co., LLC and its affiliates (Xspedius) today announced a significant expansion of its Texas customer base and network assets in a transaction involving the Texas operations of Mpower Communications Corp. (OTC BB: MPOW.OB).
Terms of the transaction, which is expected to close once all necessary approvals are obtained, were not disclosed.
The transaction adds nearly 6,000 business customers and major new network capacity to Xspedius' existing operations in Dallas-Ft. Worth, Austin, Houston and San Antonio. Xspedius will provide these new customers with the same locally based, personal customer service approach that has fueled the company's rapid growth.
"We are very excited to begin building a business relationship with Mpower's customers in Texas. They are a perfect fit with the profile of our own customers, who are smart-minded business people with a need for high quality, reliability, choice and value in their telecommunications and data services," said Xspedius President and CEO Mark W. Senda. "The transaction involving Mpower's Texas properties will enable us to apply our proven operational efficiencies as we consolidate their networks into ours, resulting in even greater service quality for our customers and growth potential for Xspedius."
"The management team and our investors are extremely pleased with the progress we've made at Xspedius since concluding the transaction for e.spire in the middle of 2002, and we expect to see the same benefits from this new investment in Texas," said Xspedius Chairman James C. Allen. "We are continuing to evaluate potential merger partners in other attractive U.S. regions to complement our aggressive growth strategy."
Xspedius also announced that it will consolidate all of its holdings under the new name Xspedius Communications. The name change, which is subject to regulatory approval, more closely reflects the breadth and depth of the company's telecommunications and data services. Xspedius Communications will have a footprint that includes 20 states, plus the District of Columbia, and more than 3,500 route miles of fiber in a total of 37 markets, including Atlanta, Dallas/Ft. Worth, Houston, Fort Lauderdale/Miami/West Palm Beach, Tampa, and Washington, D.C./Northern Virginia.
About Xspedius
Xspedius Management Co., a privately held firm headquartered in St. Louis, Missouri, is funded by Thermo Capital Partners. At the helm of the company is James C. Allen, chairman, and Mark Senda, president and CEO, two industry pioneers who have previously founded and led such notable communications companies such as Brooks Fiber, MetroNet, AT&T Canada and MFS Communications. Xspedius Management Company also manages Xspedius Communications LLC, a regional CLEC headquartered in Lake Charles, La.
About Thermo
Thermo is part of the Thermo Companies based in Denver, Colorado, a highly successful group of companies focused on opportunities in the telecommunications, industrial, power generation, natural resources, and real estate industries. For more information about Thermo, please contact Jim Lynch at Thermo Capital Partners, LLC (914) 576-7357 or jim@thermoco.com.
CONTACT: Xspedius Management Co., Atlanta
Michelle Machado, 404/355-5757
michelle.machado@espire.net
or
Ketchum for Xspedius Management Co., Atlanta
David Doolittle, 404/879-9266
david.doolittle@ketchum.com
.......According to the Great Pumpkin, ".....You're in .....iHub....., Charlie Brown....."!!!
