- Cincinnati Bell (CBB +2%) has wrapped its $201M acquisition of service provider OnX Enterprise Solutions.
- Combining OnX and CBTS, Cincinnati Bell's enterprise IT services business, gives the company a stronger platform in the U.S. and Canada to pursue an expected $250B global spending on cloud services, it says.
- As a unit, the combination will offer managed cloud computing and data center services, and end-to-end communications services with subject matter expertise in support of sales, installation, operation, and maintenance, according to Cincinnati Bell.
- The closing of the deal means new debt for Cincinnati Bell: a five-year $200M senior secured revolving credit facility and a seven-year $600M senior secured term loan facility.
- Previously: Cincinnati Bell buys Hawaiian Telecom for $30.75/share (Jul. 10 2017)
- Now read: Adding A 12.15% Very Risky Bond With A Hedging Reaction To Our Trading Portfolio And To The Risky IRA
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