Source: Company Press Release
 
ITC^DeltaCom, Inc., a leading provider of integrated communications services to customers in the southeastern United States, today announced that it has entered into an agreement with members of the Quality Group of Companies (Quality) to sell ITC^DeltaCom's e^deltacom business, including e^deltacom's data center facility in Suwanee, Georgia.
 
e^deltacom provides managed colocation, hosting, security, data storage, monitoring and networking services and hardware solutions. Quality is a full- service developer and provider of specialized commercial and governmental facilities. Proceeds from the sale of e^deltacom totaling approximately $25.8 million, before adjustments and transaction costs, will be used by ITC^DeltaCom for general corporate purposes.
 
"The sale of e^deltacom represents a continuation of our strategy to focus on our core competencies and to strengthen our balance sheet," said ITC^DeltaCom CEO Randall E. Curran. "We look forward to partnering with Quality as we establish a relationship that ensures that both companies continue to provide outstanding service to their respective customers."
 
Under the terms of the transaction, ITC^DeltaCom will continue to provide telecommunications services to e^deltacom and Quality. The sale is subject to customary closing conditions, including consents of third parties, and is expected to close by the end of the third quarter.
 
Miller Buckfire & Co., LLC acted as the Company's financial advisor on this transaction.