Philly-based hosted VoIP & Unified Communications provider Alteva acquired

Alteva, a Philadelphia-based hosted VoIP and unified communications provider, has been acquired by the Warwick Valley Telephone Company of Warwick, New York, it was announced today. The total value of the acquisition is $17 million in cash and stock ($11 million in cash, $4 million in stock and $2 million in potential earnouts).

Warwick Valley intends to combine Alteva's operations with its USA Datanet CLEC (Competitive Local Exchange Carrier) business as it seeks more growth than its traditional local telephone business offers. Warwick is in Orange County, in the far northern exurbs of New York. Warwick Valley will hold a conference call tomorrow to explain the deal.

Alteva was founded in 2003 by Bill Bumbernick and is headquartered in the Bourse building along Independence Mall. No word yet on what this deal will mean for its Philadephia presence.

You can see my previous pieces on Alteva here
and here.



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Robert Sandie on being pushed out at Viddler

Viddler co-founder Robert Sandie posted a rather blunt (though restrained) note on his personal blog yesterday about him being forced out as the company's CEO/President. He will continue to serve on the board and still has a significant stake in the company, but will no longer have an operational role. No word yet on his replacement. He says he will probably leave Bethlehem and move elsewhere, mentioning Philly as one possibility.

Sandie says the online video service is "profitable, 25+ employees and growing". Interestingly, he also says that "after the fate of Viddler is decided, I will probably be more public on lessons learned/etc". Does that mean the company is actively considering a sale?

Ben Franklin Technology Partners NE and First Round Capital are the only institutional investors I am aware of. (Update: ITJ Ventures was apparently another investor. I was wrong about First Round having ever been involved.)



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Daily Links 7/14/2011: Cuts at Digitas Health; Journal Register sold to hedge fund

Software AG Drops as Sales Miss Estimates (Bloomberg)
Cites fall in demand for SAP-related products. Softwsre AG also has an area presence through its acquisition of IDS Scheer a couple of years ago.

Software AG's weak Q2 rattles investors, shares plummet (Reuters)

Axe falls at Digitas Health (Medical Marketing & Media)

‘Digital First’ (Yardly-based) Journal Register Sold To Hedge Fund (paidContent)

Can Discounted Tablets Lure New Newspaper Subscribers? (Knowledge@Wharton)

Philadelphia 76ers Owner Reaches Agreement to Sell Team to Apollo’s Harris (Bloomberg)

Comcast Bans Seattle Man From Internet for His Cloudy Ways (Wired: Epicenter)

Safeguard Scientifics Celebrates 40 Years of Trading on the NYSE
Milestone to be Commemorated Today with Ringing of the Closing Bell (Business Wire)

Jaspersoft Closes New Financing (PR Newswire)
Open Source BI vendor raises $11 from backers including return investor SAP Ventures.


Obama’s health IT coordinator: Know the regulations (Philadelphia Business Journal)



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