Cincinnati Bell to pick up Hawaiian Telcom and OnX Enterprise
July 12, 2017
Telecommunications Service Providers | Honolulu, HI | Corporate Acquisition
Integrated communications provider Cincinnati Bell has agreed to acquire Hawaiian Telcom for approximately $650 million and OnX Enterprise Solutions for some $201 million in two separate transactions. In 2016, Hawaiian Telcom generated $393 million in revenue and had an adjusted EBITDA of $116 million, while OnX had earnings of $614 million and an adjusted EBITDA of $29 million. Shares of Cincinnati Bell (NYSE: CBB) declined nearly 7% Tuesday.