EUR Datacenter, Inc. Purchased by Management With Saratoga Partners.Business Editors
MECHANICSBURG, Pa.--(BUSINESS WIRE)--June 1, 2000
Investment supports growth of leading ASP telecom
for billing and customer care
To accelerate its growth and investments in technology, EUR EUR
In currencies, this is the abbreviation for the Euro.
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. Datacenter, Inc., a leading Application Service Provider of outsourced billing and customer care solutions to the telecommunications industry, today announced that it has been purchased by its current management team in partnership with Saratoga Partners, an investment firm. Terms of the private transaction were not disclosed.
Saratoga Partners and the EUR Datacenter management team, led by Chief Executive Officer Creedin Paulus and Chief Operating Officer Chief Operating Officer (COO)
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. Charles Achuff, purchased the 40-year old company from the founder, who has elected to retain a continuing equity interest in the company.
EUR Datacenter has a current client roster of more than 40 telecom companies, including AT&T (NYSE NYSE
See: New York Stock Exchange :T), Comcast (Nasdaq:CMCSA), MCI (1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device.
(2) (Microwave Communications Inc. WorldCom (NYSE:WCOM WCOM MCI/Worldcom (stock symbol)
WCOM Windows Component Object Model
WCOM Wireless Communication ), Time Warner Telecom Time Warner Telecom NASDAQ: TWTC is headquartered in Littleton, Colorado.
The company provides managed network services, specializing in Ethernet and transport data networking, Internet access, local and long distance voice, VoIP and security, to enterprise (Nasdaq:TWTC TWTC Taipei World Trade Center (Taiwan, ROC)
TWTC Time Warner Telecom ), US West (Nasdaq:USW USW Und So Weiter (German: and so on)
USW Undersea Warfare
USW United Steel Workers
USW US Wheat Associates
USW Ultrasonic Welding
USW Ultra Short Wave
USW US West Telecommunications (stock symbol) ) and over 30 independent local exchange carriers.
Headquartered in Mechanicsburg, Pennsylvania, EUR Datacenter employs a staff of 200 at its technologically advanced data center which provides 24/7 customer service and processes over 300 million messages monthly.
With new resources from its financial partner, EUR Datacenter will pursue enhanced growth opportunities in providing domestic and international carrier access billing to CLECs (competitive local exchange carriers) and IXCs (interexchange/long distance carriers) as well as convergent billing solutions for end users.
"This is a logical progression for EUR Datacenter as we move into another phase of our growth in the highly-dynamic telecommunications industry," said Creedin Paulus, 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. . "We look forward to close collaboration with Saratoga Partners in offering an even higher level of quality, cutting-edge services and technologies to our valued customers."
"Investing in EUR Datacenter is a perfect fit with our growing portfolio of investments in telecommunications and Internet-related companies," said Chris Oberbeck, managing director at Saratoga Partners. "EUR Datacenter has an excellent reputation for quality service, a strong customer and employee base, and an expert management team. As the telecom industry continues to converge and embrace outsourcing models, EUR Datacenter's expertise in billing and customer care will be invaluable."
In building out its suite of ASP services, EUR Datacenter recently announced a strategic alliance with Daleen Technologies Inc. (Nasdaq:DALN) to use Daleen's billing software solutions to address the needs of integrated communications providers.
About Saratoga Partners
Saratoga Partners is a leading private equity investment firm with $750 million of committed and invested capital. The firm's philosophy is to invest in businesses with strong management teams in the media and telecommunications, business services and manufacturing industries, with valuations between $50 million and $500 million. Founded in 1984 and headquartered in New York, Saratoga Partners has led investments in 28 companies with aggregate value in excess of $3.4 billion.