Windstream to buy N.Y. firm for $227M
Windstream Holdings has agreed to buy Broadview Networks Holdings of Rye Brook, N.Y., for $227.5 million, the Little Rock telecommunications company said Thursday.
Broadview is a leading provider of Internet data, or cloud-based, communications services for small and medium-size businesses.
Broadview's proprietary communications products will enhance Windstream's portfolio, Tony Thomas, Windstream's chief executive officer, said in a prepared statement. Windstream also expects to utilize Broadview's experienced sales force in its national locations, he said.
Windstream will finance the deal with cash reserves and available credit. It expects to realize about $30 million in annual operating savings within two years.
-- David Smith
UA's business lunch to feature new host
The University of Arkansas' Quarterly Business Analysis Luncheon in May will feature Mervin Jebaraj, interim director of the university's Center for Business and Economic Research.
Jebaraj will discuss the previous quarter, economic trends and projections. It will be the first time Jebaraj has hosted the event.
"I am looking forward to presenting the latest economic information about the Arkansas and Northwest Arkansas economies to our community leaders," Jebaraj said in a release Monday.
In March, Kathy Deck, longtime director of the research center, said she'd accepted a job at the University of Alabama at Tuscaloosa.
The luncheon event costs $40 and begins at 11:30 a.m., May 23 at the Hilton Garden Inn, 1325 N. Palak Drive in Fayetteville. The event typically lasts about 75 minutes and includes time for questions and answers.
Preregistration is required and can be made at the Quarterly Business Analysis page on the Sam M. Walton College of Business' website or by calling (479) 575-4151.
-- John Magsam
Arkansas Index off 4.29, ends at 337.10
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, fell 4.29 to 337.10 Thursday.
"U.S. equities sold off in afternoon trading in advance of the Good Friday market holiday following news of a U.S. military strike in Afghanistan with the energy sector underperforming," said Leon Lants, managing director at Stephens Inc. in Little Rock.
Total volume for the index was 18 million shares. The average daily volume for the week was 19.2 million shares.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 04/14/2017