WVT Communications becomes Alteva: No longer your great-grandfather's phone company

Tom Paine

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WVT Communications (originally Warwick Valley Telephone), the small local New York telco that acquired Philadelphia-based unified communications provider Alteva in 2011, is making Alteva its official corporate name, the company announced yesterday. It plans to change its ticker symbol on the NYSE MKT exchange to ALTV effective February 4, pending shareholder approval.

I asked WVT by email whether it was in the plans for the renamed corporation to move its headquarters from New York to Philadelphia, and a spokesperson rsponded that "we have no plans for a move at this time and we still have substantial operations and management in Warwick, NY."
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In its press release, WVT/Alteva referred to itself as the "nation's ninth largest unified communications provider." I recently wrote about one of the larger ones, Wayne-based Evolve IP. Although the two vendors are not precisely
apples-to-apples in terms of strategies and service offerings, Evolve IP reported 2011 revenue of $17.2 million and indicated that it had very substantial but unspecified growth again in 2012. According to its latest financial report from last year, Alteva's cloud communications revenue were running at annual rate of about $15 million with 38% growth. Alteva's current market capitalization (the total value of its stock) is about $68 million.

Alteva opened a new Philadelphia headquarters last year at 401 Market Street, featuring an "innovation center" that is viewable at street level, with "experience zones" where individuals can get a hands-on look at Alteva's system. Alteva's President & COO is David Cuthbert, who is based in Philadelphia, while Duane W. Albro is Chief Executive Officer based out of New York. The corporation reports having over 50 employees in Philadelphia.



See also Alteva: Comcast enters its market, as it expands office space & hiring; Launches new ad campaign



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