Cbeyond Communications Closes Series C Preferred Stock Investment.ATLANTA -- Atlanta-based Cbeyond Communications, a small business focused Managed Services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality Provider, announced today that the company closed on its Series C Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. investment on December 29, 2004. The amount of proceeds raised was $17 million, with $10 million coming from existing investors and $7 million from new investors. Cbeyond's largest shareholders include Madison Dearborn Madison Dearborn Partners (MDP) is a private equity firm specializing in buyouts of private or publicly held companies, or divisions of larger companies; recapitalizations of family-owned or closely held companies; balance sheet restructurings; acquisition financings; and growth Capital Partners, Battery Ventures, and Vantage Point Venture Partners, all of whom participated in the Series C round. The new investors in the round were Black Diamond Capital and Ballast Point Ballast Point may refer to a number of geographic locations:
Using Voice over Internet Protocol See Internet and TCP/IP. (networking) Internet Protocol - (IP) The network layer for the TCP/IP protocol suite widely used on Ethernet networks, defined in STD 5, RFC 791. IP is a connectionless, best-effort packet switching protocol. (VoIP) and a 100% Cisco-powered network, Cbeyond delivers an integrated package of high-quality voice and broadband Internet See broadband. services to small business customers in Atlanta, Chicago, Dallas-Ft. Worth, Denver and Houston. About Cbeyond Communications Cbeyond Communications, a privately held, Atlanta-based Managed Service Provider, is a leader in the emerging local voice and broadband services market and the world's first 100% Voice over Internet Protocol (VoIP) local phone network. Using Voice over Internet Protocol (VoIP) and a 100% Cisco-powered network, Cbeyond delivers to small business customers in Atlanta, Chicago, Dallas-Ft. Worth, Denver and Houston an integrated package of high quality local and long distance telephony services, high-speed Internet access and Internet-based applications for about the same price that small businesses typically pay for local and long distance service alone. For more information on Cbeyond Communications, visit www.cbeyond.net. |
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