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Entries in Alteva (8)

Friday
Sep042015

Momentum Telecom Announces Acquisition of Alteva

Introduction

On Wednesday, September 3rd, Momentum Telecom announced its acquisition of Alteva (NYSE: ALTV).  Alteva’s main focus today has been on cloud-based UC on a BroadSoft platform. 

Transaction Facts

  • Transaction is for approximately $28.7 million.
  • As a result of the transaction, Alteva shareholders will receive $4.70 per common share, once the deal closes, which is expected to be during Q4 2015. 
  • Transaction will give Momentum additional scale.

Strategic Considerations

  • Deal increases Momentum’s user count to over 250,000.
  • Improves the company’s marketing and sales initiatives.
  • Delivers value in the form of support to existing and new customers.
  • Bill Fox, President & CEO of Momentum commented on the transaction saying “The combined strengths of these two companies further enhance Momentum Telecom as a market leader in the VoIP and unified communications industry.”

JSICA’s Take

  • Adds to the consolidation that has been occurring in the VoIP and unified communications industry.
  • TTM Revenue as of June 30, 2015 was approximately $30.39m, which implies a revenue multiple of 0.9x.
  • Cash flows from operations have been negative for several years. Alteva’s TTM OIBDA for the quarter ending June 30, 2015 was ($2.97 million).
  • Alteva was formally Warwick Valley Telephone Company (WVTC)
  • The transaction represents a 31% premium to Alteva’s closing share price on 9/2/2015.

Alteva Timeline

Thursday
Feb162012

Warwick Valley's Alteva Partners to Provide Hosted VoIP to Cloud Customers

Source: Alteva Press Release

Alteva, a subsidiary of Warwick Valley Telephone Company (Nasdaq:WWVY), announced its new partnership with Parallels, a hosting and cloud services provider. Through the APS BroadSoft beta program, Parallels will provide its customers access to a turn-key hosted VoIP white label solution. The APS BroadSoft beta program is a way to jumpstart the on-boarding of new clients for the Parallels community and will provide SMB customers with a route to further leverage additional cloud services as part of their growth strategy.

Parallels Automation, combined with Alteva’s wholesale business model, offers service providers a turnkey portfolio of communication services. As Alteva hosted VoIP wholesalers, Parallels customers will benefit from unparalleled telecommunications continuity, vendor/phone bill consolidation, scalability, increased control, business continuity and mitigation of technology obsolescence.

Thursday
Jan122012

Warwick Valley's Alteva Adds Mozy Data Backup Services

Source: Alteva Press Release

Alteva, a subsidiary of Warwick Valley Telephone Company (Nasdaq:WWVY) referred to as WVT Communications Group, and cloud-based Unified Communications (UC) solution provider headquartered in Philadelphia, announced it is now an authorized reseller of MozyPro, an online data backup solution. By joining the Mozy Reseller Program, Alteva can now provide its customers with an online backup service in addition to its existing hosted VoIP and UC offerings.

MozyPro protects and secures vital documents and information, providing businesses with an easy-to-use web-based administration console to manage them. These data backup products add to Alteva’s growing portfolio of cloud services including hosted VoIP, hosted Microsoft Communication Services (Microsoft Exchange, Share Point and OCS with voice integration), fixed mobile convergence, video and web conferencing, advanced voice applications for PCs, data connectivity, and more.

Thursday
Nov102011

As WVT Rebrands Itself Cloud Pioneer, Alteva Acquisition Rises 3Q Revenues

Source: WVT Communications Press Release

Warwick Valley Telephone Company (Nasdaq:WWVY), referred to as WVT Communications Group, announced financial results for its third quarter and nine months ended September 30, 2011. Revenues for the three-month period ended September 30, 2011 increased 9% to $6,829,000, as compared to $6,250,000 for the same period of 2010. The increase in revenues of $579,000 is primarily attributable to the consolidation of financial results for the acquisition of Alteva, LLC from August 5, 2011, partially offset by a decline in landline-related services revenues due to subscriber losses from continued wireless/cable substitution and select customer attrition.

For the three-month period ended September 30, 2011, WVT Communications Group had a net loss of $(1,689,000) compared to net income of $1,266,000 for the three-month period ended September 30, 2010. This decrease of $2,955,000 was primarily attributable to the increase in operating expenses and lower earnings associated with the O-P due to the 4G amendment and corresponding accounting treatment.

Thursday
Sep152011

Warwick Valley Integrates Management Team Following Alteva Acquisition

Source: Warwick Valley Press Release

Warwick Valley Telephone Company (Nasdaq:WWVY) announced that it has completed the integration of the management team of its full service telecommunications company associated with its recent acquisition of Alteva LLC, a cloud-based unified communications solutions provider and North America's largest enterprise hosted Voice over Internet Protocol provider. WVT operates in Southern Orange County, New York; portions of Central New York and New Jersey; and the greater Philadelphia, Pennsylvania region.

President and Chief Executive Officer, Duane W. Albro has announced that since the official closing of the acquisition of Alteva LLC on August 5, 2011, the Company has identified its executive level and management leadership teams with all employees aligned in functional roles to serve the Company's broad customer base. Additionally, all sales, marketing, operations and corporate support organizations have developed and are implementing comprehensive transition plans to continue the integration.

Specifically, Duane Albro will remain president and ceo. The remaining top line management team is David Cuthbert - evp, coo and president-Alteva; John Merger - evp and cto; Ralph Martucci - evp, cfo and treasurer; Patrick Welsh - evp, cao and corporate secretary; and Virginia Quackenbush - vp, ILEC president-Warwick Valley Telephone.