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Windstream offloads EarthLink consumer business for USD330m

2 Jan 2019

US fixed line operator Windstream has sold its legacy EarthLink consumer internet business to Trive Capital, a Dallas-based private equity firm, for USD330 million in cash. Tony Thomas, president and CEO of Windstream, commented: ‘This transaction enables us to divest a non-core segment and focus exclusively on our two largest business units. In addition, it improves our credit profile and metrics in 2019 and beyond.’

According to TeleGeography’s GlobalComms Database, Windstream and EarthLink merged in an all-stock transaction valued at approximately USD1.1 billion, including debt, in February 2017. Following the completion of the deal, Windstream shareholders held a 51% stake in the combined company, with EarthLink shareholders claiming the remaining 49% stake.

The legacy EarthLink consumer internet business offers internet access, online back-up, managed web design, web hosting and various email services to over 600,000 customers throughout the US.

United States, EarthLink, Windstream Holdings (incl. Kinetic)

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