Windstream To Sell Data Center Business For $575 Mln - Quick Facts

(RTTNews) - Windstream (WIN), a provider of advanced network communications, announced that it has entered into a definitive agreement with TierPoint, a provider of cloud, colocation and managed services, to sell Windstream's data center business in an all cash transaction for $575 million.

As part of the transaction, Windstream will establish an ongoing reciprocal strategic partnership with TierPoint, allowing both companies to sell their respective products and services to each other's prospective customers through referrals. This structure will allow Windstream to focus capital on its core telecom offerings while continuing to offer traditional data center services to enterprise customers across a broader data center footprint.

The boards of both companies have approved the transaction, which is expected to close within the next 2-4 months, subject to customary conditions and approvals.