Alteva sold for $17 million

The company has sold to Warwick Valley Telephone Company for $17 million in cash and stock. Based in the Bourse building in Old City, Alteva provides VoIP services to businesses. Read our 2009 profile on the company here.
From the release:

Following the closing of the acquisition, WVT will integrate its existing Competitive Local Exchange Carrier (“CLEC”) business, USA Datanet, with the operations of Alteva … It is anticipated that the Alteva acquisition will increase WVT’s consolidated revenues by approximately 30% on an annual basis.

Source: MarketWatch

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