Windstream has been saddled with a massive amount of debt for many years and as it struggled to pay it down, it faced declining revenues and margins in its legacy businesses. To offset this challenge, they focused on high-value and higher-margin solutions. We told you about this last April when we reported on their one billion in DIP funding from CIT global.
To boost sales of the higher-margin solutions they announced at the time that resellers would receive a 5% premium on certain services such as UCaaS, SD-WAN call center and security.
Since that time, the company continued to innovate – boosting its SD-WAN business with better analytics, visibility, etc. They added Slack integration and Office UC upgrades as well. Finally, this past June, they added live chat to their OfficeSuite UC Contact Center solution.
The company has successfully completed its financial restructuring process as a privately held company and has reduced its debt by more than $4 billion, or approximately two-thirds, and now has access to approximately $2 billion in new capital. With an enhanced capital structure, Windstream is now well-positioned to continue making substantial network and software investments, fuel sustainable growth and drive value for all its stakeholders.
“Today marks the start of a new era for Windstream as an even stronger, more competitive company,” said Tony Thomas, president and chief executive officer of Windstream. “With the completion of our financial restructuring, we now have an enhanced balance sheet and a robust capital investment program to expand 1 Gig Internet service in rural America and maintain our product and software leadership in SD-WAN and UCaaS for enterprise customers. We are also pleased to continue our strategic partnership with Uniti Group and expand our mutually beneficial relationship. With the support of our new owners and current operational momentum, Windstream will continue advancing our long-term growth objectives while providing our customers with quality and reliable services.”
Thomas continued, “I would like to thank our customers, vendors and business partners for their ongoing support throughout this process. I would also like to extend my deepest gratitude to the Windstream team for their dedication to our customers and continued commitment to delivering essential telecommunications services during this unprecedented healthcare crisis.”
Paul Sunu, chairman of the new Windstream Board of Directors, said, “Tony and the Windstream team have made significant strides in the last 18 months to better position the company to compete for the long term. The new Board and I are confident that we have the right management team and right strategy to accelerate Windstream’s transformation, return to growth and drive sustainable value creation.”
Windstream also today unveiled a new corporate logo, marking the next chapter in the company’s transformative journey.
Windstream also today unveiled a new corporate logo and will continue to support its customers across the U.S. with:
- Windstream Enterprise: Windstream’s nationwide, cloud-optimized network and software solutions – such as SD-WAN, UCaaS and OfficeSuite UC.
- Kinetic by Windstream: Consumers can experience robust high-speed internet with speeds up to 1 Gig, extensive TV & entertainment options, home network security, optimal Wi-Fi control and reliable voice services through a fiber-based network and 5G fixed wireless service. Small and midsize businesses can choose from cloud-based collaboration and communication tools along with wireless internet backup.
- Windstream Wholesale: Digital transformation in optical transmission, providing flexible and customized high-capacity bandwidth and transport services to content and media providers, cloud and data center operators, international carriers, cable operators, wireless carriers, traditional network service providers and more.
It’s been a long process and we wish the company well as they continue to innovate and proceed to grow their sales and profits.
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