PAETEC Holding Corp.

PAETEC Holding Corporation
Former type Public (NASDAQ: PAET)
Industry Business voice and data telecommunications
Fate acquired by Windstream Communications
Founded Rochester, New York May 1998 (1998-05)
Defunct December 2011
Headquarters Perinton, New York
Area served California, Delaware, Florida, Iowa, Michigan, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Virginia
Key people Arunas A. Chesonis, CEO, Chairman, & Founder of PAETEC
Richard T. Aab, Vice Chairman & Co-Founder of US LEC
Services Voice services
Data services
Software solutions
Customer premises equipment leasing
Managed services
Revenue US$1624 million (2010)[1]
Operating income US$45 million (2010)[1]
Net income US$(58 million) (2010)[1]
Total assets US$2008 million (2010)[1]
Total equity US$137 million (2010)[1]
Employees 4639 (2010)[1]
Subsidiaries 47 total (2010)[2]
Website www.paetec.com

PAETEC Holding Corp. was a FORTUNE 1000 telecommunications company headquartered in Perinton, New York, USA[3]. It was founded as the private company PaeTec Communications, Inc. in 1998 by Arunas A. Chesonis. In 2007 it merged with US LEC and became a publicly traded company, and in 2011 it was acquired by Windstream Communications.

PAETEC provided local and long-distance voice services, data and Internet services, and software applications, among others. PAETEC provided service to medium and large businesses, colleges and universities, hospitals, hotels, governmental organizations and other institutions within its service area.

Contents

Awards and recognition

PAETEC was the recipient of various local and national business awards.

Mergers and acquisitions

PAETEC owned the naming rights to PAETEC Park, a soccer-specific stadium in nearby Rochester, New York, from its opening in 2006 to 2008.

Name origin

The name PAETEC was derived from the initials of the first names of its founder's wife Pam and four children Adam, Erik, Tessa and Emma. In earlier days, the name was displayed as PaeTec Communications, Inc. After the acquisition of US LEC, the new merged entity became PAETEC Holding Corp., however, the company is simply referred to as PAETEC.

Other

References

  1. ^ a b c d e f PAETEC Holding Corporation (2011-03-16), FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2010, Washington, D.C.: U.S. Securities and Exchange Commission, File 000-52486, film 11692382, http://www.sec.gov/Archives/edgar/data/1372041/000119312511068762/d10k.htm, retrieved 2011-03-28 
  2. ^ PAETEC Holding Corporation (2011-03-16), FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2010, Washington, D.C.: U.S. Securities and Exchange Commission, Exhibit 21, File 000-52486, film 11692382, http://www.sec.gov/Archives/edgar/data/1372041/000119312511068762/dex21.htm, retrieved 2011-03-28 
  3. ^ Daneman, Matthew (2010-08-06). "PAETEC cuts loss to $7.5M". Democrat and Chronicle. http://www.democratandchronicle.com/apps/pbcs.dll/article?AID=20108060311. Retrieved 2010-08-11. "PAETEC Holding Corp. is edging closer to — but still falling short of — profitability. The Perinton-based telecommunications company reported a loss of $7.5 million for the quarter that ended June 30, an improvement from the $16.5 million it lost in the same quarter a year earlier and from the $9.5 million it lost in the January–March quarter this year." 
  4. ^ "?". Rochester Business Journal. October 16, 2007. http://www.rbj.net/fullarticle.cfm?sdid=69453. 
  5. ^ Rochester Institute of Technology. "Imagine RIT Innovation and Creativity Festival". http://www.rit.edu/imagine. Retrieved 2008-04-19. 

External links