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TAMPA — Telovations, a Tampa-based cloud communications provider, has become the latest acquisition target for Bright House Networks, the burgeoning cable systems company.
Telovations provides voice communications services for small and medium-sized businesses. It aims to shrink capital investment for client companies by providing its technology on a pay-as-you-go basis, according to a company statement.
The transaction, which requires regulatory approval, is expected to close within two months, according to a news release from the Bright House corporate office in Orlando.
The deal will help Bright House provide cloud-based and managed services, and will help the cable company serve small and medium sized businesses, according to Bright House.
“We welcome this collaborative opportunity to combine our fiber optic network and managed services offerings with Telovations' cloud-based unified communications services to provide companies with a much broader array of network capabilities and industry-leading services,” says Leo Cloutier, senior vice president of corporate strategy and business development for Bright House, in the statement.
Q Advisors, an investment banking boutique with offices in San Francisco and Denver, among other locations, has served as financial adviser to Telovations for the sale.
Bright House Networks provides about 2.5 million customers with video, high-speed data and voice services. It also offers phone, cable, and other services to businesses, and owns news and sports channels in Florida. Besides Florida, it provides cable systems in Alabama, Indiana, Michigan and California.
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