Press Release Summary: Anschutz returns to telecom with acquisition of LightEdge Solutions, a business-grade VoIP and managed services company.
Press Release Body: Company capitalized for aggressive expansion of managed Voice, Data and IT Services for small and medium sized businesses
DES MOINES, Iowa, March 25, 2008 - LightEdge Solutions, a leading provider of managed business services, today announced that it has been wholly acquired by The Anschutz Company for an undisclosed amount. The acquisition includes the purchase of all outstanding stock, retirement of all accumulated debt and access to growth capital for an aggressive operational and strategic expansion. All employees will be retained through the acquisition. The LightEdge executive management team will remain and continue to manage the company through an aggressive national expansion.
"With Anschutz Company's expertise in the communications industry and the access to growth capital, LightEdge will be able to better fulfill our corporate vision of providing affordable, highly-reliable managed voice, data and IT services to small and medium-sized businesses in our current and new markets." said Jim Masterson, chief executive officer and chairman of LightEdge Solutions. "We are now, more than ever, poised to provide our customers the long term partnership we have always promised."
LightEdge Solutions had initially become successful as a provider of reliable high-speed Internet and Wide-Area-Networks for small and medium-sized businesses in the mid-90's. In 2003, the company expanded its product offerings by creating an enterprise-grade Voice-over-IP telephony platform. At a time when most companies only offered Converged Access, LightEdge went to market with both Converged Access and Hosted PBX VoIP products. In 2006 LightEdge partnered with a local developer to create a stand-alone, unified data center and business continuity work facility. This facility houses nearly 10,000 square feet of data center space and an equal amount of workspace for business continuity activities. The company is currently developing a completely integrated hosted communication suite based on Microsoft's Exchange, Communicator and SharePoint products.
With the financial backing of the Anschutz Company, LightEdge is positioned extremely well to duplicate its business successes in new markets across the country to become a national managed IT service provider. Growth will initially come organically through enhanced sales and marketing initiatives in the existing markets of Des Moines, Minneapolis, Kansas City, Omaha, Phoenix, the Quad Cities and new markets. .
About the Anschutz Company The Anschutz Company is a diversified, privately owned investment firm, owning or with major investments in over 100 companies represented primarily in the fields of energy, pipelines, agriculture, real estate, film production, movie theaters, telecommunications, sports, entertainment, and newspaper publishing.
About LightEdge Solutions LightEdge Solutions empowers businesses to be productive, mobile and effective with managed voice and data services delivered through a multi-homed, Cisco Powered Network data center environment. By out-tasking voice, data and IT services, small and medium-sized businesses are able to realize unparalleled scalability and reliability with a lower total cost of ownership and reduced administration. LightEdge Solutions® is a registered trademark of LightEdge Solutions, Inc. For more information, visit www.lightedge.com.
LightEdge Solutions®, the LightEdge Solutions logo and Scale-on-DemandT are trademarks, registered trademarks, or service marks of LightEdge Solutions, Inc.
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LightEdge Solutions Media Contact Scott Riedel 515.471.1256 sriedel@lightedge.com
Web Site: http://www.lightedge.com/company/pressreleases/20080325.html
Contact Details: LightEdge Solutions 666 Walnut Street, Suite 666 Des Moines, IA 50309 877-771-3343 Fax: 515-471-1112 info@lightedge.com
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