Cleveland-based DCT Telecom Group, a provider of cloud voice and network services, has agreed to be acquired by Atlanta-based Momentum Telecom, a provider of similar services.
“We are proud to join forces with Momentum Telecom as they align closely with our core values," DCT founder Anthony Romano said a statement. "DCT customers will benefit greatly from Momentum's market-leading position and shared view on delivering excellent customer value."
For Momentum, the acquisition of DCT will add scale and geography to the company's growing cloud voice customer base. It also brings complementary managed broadband, internet and cloud voice capabilities.
“DCT’s strong relationships in key markets and commitment to their customers make them a natural fit for Momentum Telecom,” Momentum CEO Todd Zittrouer, said in a statement. “With DCT on board we will continue to expand geographically and add more enterprise customer knowledge and experience.”
Terms of the deal were not disclosed. It is subject to regulatory approvals and standard closing conditions.
Bank Street Group LLC served as exclusive financial advisor to DCT.
