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29 August 2017
| Alan Burkitt-Gray
US cloud provider Fusion Communications is to expand via a takeover of the cloud and business services operations of Birch Communications.
Following the deal Birch’s existing owner
– private equity company Birch Equity Partners
– will own 75% of the combined company and
Fusion’s shareholders will own just 25%. Fusion,
whose shares are quoted on Nasdaq, will take over
Birch’s existing debt of $458 million, "which is
expected to be refinanced along with Fusion’s
existing debt", said Fusion, whose management will run the