Conversent Communications Triples Number of Markets Served in Massachusetts; Growth in Massachusetts responds to customer demand; marks first phase of further expansion throughout Northeast and Mid-Atlantic.MARLBOROUGH, Mass. -- Conversent Communications, Inc. (CCI CCI Chambre de Commerce et d'Industrie (France) CCI CAM (Complementary and Alternative Medicine) Citation Index CCI Chamber of Commerce and Industry (Western Australia) ), a leading integrated communications provider (ICP (1) (Internet Cache Protocol) A protocol used by one proxy server to query another for a cached Web page without having to go to the Internet to retrieve it. See CARP and proxy server. ), today announced that it is increasing the number of Massachusetts communities it serves from 67 to 190. This is the first phase of a significant expansion the company is undertaking to meet rising customer demand and to increase market share within the 11 states it serves. Conversent's expansion follows the company's recent merger with FiberNet and the announcement of $225 million in additional funding. "This expansion follows an already very exciting year for Conversent," said Robert Shanahan, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Conversent Communications. "Increasingly, businesses are recognizing the significant benefits that alternative providers can offer over the Baby Bells The nickname given to the regional Bell operating companies after Divestiture in 1984. See Bell System and RBOC. . To meet this demand, we secured funding from leading financial institutions to expand our innovative product offerings here in Massachusetts and throughout our territory." The expansion will dramatically increase the company's reach throughout Massachusetts and will allow nearly every addressable Reachable. When something is addressable, it can be identified and manipulated independently of its surroundings. For example, screen pixels and RAM memory are addressable. Each of the screen's picture elements can be individually turned on and off, and each of the memory's bytes can be business line in the state to obtain Conversent's complete portfolio of voice, Internet, and data solutions. CCI currently serves more than 58,000 customers and 300,000 local access lines with more than 3,900 miles of state-of-the-art fiber optic network, seven voice switches, and 196 co-locations. The company employs 825 sales, technical and support staff in 24 offices from Maine to West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. . Since 1998, Conversent has raised more than $370 million in private equity and debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay . In January 2003 the company achieved profitability, a first in the CLEC (Competitive Local Exchange Carrier) An organization offering local telephone service that is not one of the traditional telephone companies. The Telecommunications Act of 1996 allowed competition to the incumbent telcos (ILECs), enabling new companies (CLECs) industry. About Conversent Communications, Inc. Conversent Communications, Inc. (CCI) is a leading integrated communications provider (ICP) that offers a broad portfolio of voice, data and Internet services to meet the individual needs of business customers. Conversent serves clients throughout the Northeast and Mid-Atlantic with innovative and flexible communication solutions backed by a reliable network and a dedicated customer support staff. Co-founded in 1998 by cable entrepreneur Robert Fanch and Conversent's president and CEO, Robert Shanahan, Conversent has been recognized by small, mid-sized and enterprise business customers as the preferred provider for all their communications needs. More information is available at www.conversent.com. |
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