WVT Communications Group Wins North American Corporate Small Mid-Market Deal of the Year for Alteva Acquisition
Company Honored at 2011 Americas M&A Atlas Awards
WARWICK , NY - November 1, 2011 - Warwick Valley Telephone Company (NASDAQ: WWVY), referred to as WVT Communications Group, the parent company of leading cloud communications pioneers, today announced it was awarded "North American Corporate Small Mid-Market Deal of the Year" in the 2011 Americas M&A Atlas Awards for its acquisition of cloud-based Unified Communications (UC) solution provider, Alteva. The company was recognized at The Annual Americas Mid-Markets M&A Atlas Awards Gala, held October 25th at the Harvard Club in New York City.
WVT Communications Group is the first and only publicly-traded Regional Local Exchange Company (RLEC) to acquire a hosted UC company. Importantly, former Alteva personnel are now managing WVT Communication Group's UC operations, significantly differentiating WVT Communications Group from its peers.
"The Alteva acquisition significantly contributes to our strength and momentum in the marketplace, favorably impacts our highly skilled workforce and the services delivered to our customers, and, most importantly, supports our mission to deliver value to our shareholders," said Duane Albro, President and CEO, WVT Communications Group. "By taking advantage of the high growth UC sector and overlaying it on a stabilized broadband regional company, we've redefined our business and created an evolutionary change in our strategy. We are truly honored to be recognized for Deal of the Year."
Part of the M&A Atlas Awards global brand, the annual Americas M&A Atlas Awards honors top deals, dealmakers and A-list firms from the North and South Americas mergers, acquisitions, private equity, venture capital and turnaround communities worldwide. To be eligible for an award, the deal size must be above 5 million and below a billion USD, any sector, anywhere from North and South American region, and must have been closed between October 1, 2010-August 31, 2011. Winners are selected based on principles of objectivity and excellence via a point ranking methodology by an independent committee of quantitative professionals.
About WVT Communications Group:
WVT Communications Group is a world technology leader in providing cloud-based Unified Communications (UC) solutions for small, medium and enterprise businesses. Founded in 1902, the company has continued to adapt and remain on the forefront of technology, chiseling its position among the most stable and respected communications vendors on the globe. Moving forward, they are forging the new model that communications providers, large and small, are striving to emulate. WVT Communications Group is merging new innovations, such as those from Alteva and USA Datanet, with proven technology from industry leaders like Microsoft, Cisco, BroadSoft, Panasonic, and Polycom to build the ideal hosting architecture for communications.
Through its USA Datanet (targeting businesses under 35 employees), Alteva (targeting businesses over 35 employees and those with branch offices), and Warwick Valley Telephone (a highly respected traditional telecom provider turned premier regional broadband company) businesses, WVT Communications Group is enabling businesses of any size to communicate more efficiently with hassle-free communications tools. By overlaying a UC division on its stabile, regional broadband company, WVT Communications Group has positioned itself in front of its peer legacy telecom companies and created an evolutionary change in its strategy. With this, the company can offer its residential customers a similar suite of UC applications and services for use in a home environment that its business customers can enjoy. Visit www.wvtcg.com or call 855-U-GO-CLOUD.
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