Thursday, December 9, 2010

PAETEC to Acquire Billing Company for $13 Million

PAETEC agreed to acquire Formula Telecom Solutions in a $13 million all-cash transaction.

FTS' Leap RevChain has been PAETEC's primary billing system since its inception in 1998. Upon the closing of this transaction, the Leap RevChain billing system will be the heart of the new RevChain Solutions division of PAETEC Software. The RevChain Solutions division expects to continue investing in the development of high performance invoicing solutions for businesses, institutions and carriers. The employees of the RevChain Solutions division of PAETEC Software will continue to be based primarily out of Boca Raton, Florida.