Synoptek buys EarthLink's IT services business for $29 mln
Synoptek, a portfolio company of Sverica Capital Management LLC, has acquired EarthLink’s IT Services business. Five Points Capital and Portfolio Advisors are also investing. Zions Bank and Comerica are providing debt financing. Atlanta-based Earthlink, in a separate announcement, said the sale impacts approximately 1,700 customers that are serviced through data centers and office locations in the continental US and Canada. Earthlink said it would receive $29 million in proceeds for the business. Bank Street served as EarthLink's exclusive financial advisor and Troutman Sanders provided legal advice.
2 February 2016•3 mins read
