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Print Edition StoriesTuesday, February 9, 2010
M/C Venture's NuVox sale nets $643M
By Mass High Tech staff
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Boston-based venture capital firm M/C Venture Partners has announced the sale of its portfolio company, Greenville, S.C.-based NuVox Inc., to Windstream Corp. for $643 million.
NuVox is an integrated communication and information technology provider, while Little Rock, Ark.-based Windstream is a telecommunications service provider for rural parts of the U.S.
M/C Venture Partners is a majority shareholder in NuVox. In 2003, the venture capital firm invested in NewSouth Communications, which merged with NuVox; the subsequent merger of CLEC Florida Digital Network, for which M/C/ Venture Partners was a founding investor, into NuVox made the firm its largest shareholder.
M/C Venture Partners focuses its investments on the media, communications and information technology sectors. Among its portfolio companies are ICG Communications, Lightower, MetroPCS, Brooks Fiber, Fusepoint, Public Mobile, Seven Networks and Zayo Group.
M/C Venture Partners last made news in February 2009 with its backing of Dallas fixed wireless company Airband Communications Inc. with a $3 million fourth round of funding.
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