Court Approves Broadview Networks' Winning Bid for Network Plus Corp.Business/Technology Editors NEW YORK--(BUSINESS WIRE)--March 20, 2002 Broadview Networks Broadview Networks is a network-based electronically integrated communications provider (e-ICP) serving small and medium-sized businesses in the Northeastern and Mid-Atlantic United States. , a network-based electronically integrated communications provider (e-ICP), announced today that the bankruptcy court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. in Delaware has issued a sale order that approves its bid for the assets of Network Plus Corp., the Randolph, Massachusetts-based communications provider that filed a voluntary petition with the court in February. Broadview Networks' winning bid for the assets of Network Plus was $15.75 million. The assets include 200,000 plus local lines, thousands of long-distance accounts and about 370 employees. Broadview Networks will also gain an extensive long-haul fiber network that runs from New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). to Florida, along with significant metropolitan fiber networks. The acquisition also has to be approved by Federal and state regulators. "We hope the regulators will endorse our bid," says Vern Kennedy, Broadview Networks 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. . "Our aim is to close the transaction expeditiously ex·pe·di·tious adj. Acting or done with speed and efficiency. See Synonyms at fast1. ex , and make it as uneventful as possible for customers. We are committed to continue to provide Network Plus customers the quality, competitive service that they have come to expect." "Our two companies are a strong fit," says Network Plus executive vice president and COO, James C. Crowley. "Both companies are focused on small and medium-sized businesses and both are committed to support and grow our customer base. The transaction will benefit customers and the companies." About Broadview Networks Broadview Networks (www.broadviewnet.com) is a network, electronically-integrated communications provider (e-ICP) serving small and medium-sized businesses and communications-intensive residential customers in the northeastern and mid-Atlantic United States. The New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of City-based company offers integrated communications solutions, including local, long-distance and international voice services; data services; and dial-up and high-speed Internet services using digital subscriber line See DSL. (communications, protocol) Digital Subscriber Line - (DSL, or Digital Subscriber Loop, xDSL - see below) A family of digital telecommunications protocols designed to allow high speed data communication over the existing copper telephone lines between end-users and (DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary ) and other advanced technologies. Customers receive a single, easy-to-understand bill and have one point of contact for real-time, personal customer care. About Network Plus Network Plus (www.networkplus.com) is a network-based integrated communications provider headquartered in Randolph, Massachusetts. Network Plus offers broadband data and telecommunications services, primarily to small and medium-sized business customers located in major markets in the Northeastern and Southeastern regions of the United States. Network Plus's bundled product offerings include local and long distance service as well as enhanced, high-speed data and internet services. |
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