Apr. 21, 2014, 8:25 AM
- Cbeyond (CBEY) +38.8% premarket after agreeing to be acquired by privately-held Birch Communications for $323M.
- The combination of Atlanta-based companies will create a communications, cloud and managed services company with a nationwide reach, 200K business customers and ~$700M in annual revenue.
Jan. 30, 2014, 1:23 PM
- The Atlanta Business Chronicle reports Cbeyond (CBEY +8.5%) has recently cut 100 jobs (7% of its workforce), plans to cut senior management positions in the next six months, and could be prepping itself for a sale.
- Shares of the hosted VoIP/IT services provider have jumped in response. The company announced in November (in tandem with a Q3 miss) it's evaluating strategic alternatives.