Birch Communications, Inc., a leading provider of business focused communications, cloud and managed services based in Atlanta and Cbeyond, Inc. (CBEY), the technology ally to small and mid-sized businesses also based in Atlanta, have jointly announced that they have entered into a definitive agreement under which Birch will acquire Cbeyond in an all-cash transaction valued at approximately $323 million. As noted in the companies’ news release, below, the transaction is expected to close within six months, subject to customary conditions, including necessary approvals from federal and state regulators and the Cbeyond stockholders.
Latham & Watkins LLP represents Cbeyond on the transaction, with a corporate team led by partners Christopher “Kit” Kaufman and David Brown with associates Marc Granger and Victoria VanStekelenburg. Advice was also provided on employee benefits by partner David Della Rocca with counsel Holly Bauer; on tax by partner Cheryl Coe with associate Andrea Ramezan-Jackson; on intellectual property by Kieran Dickinson; on securities law by partner Joel Trotter with associates Jessica Munitz and Melissa Fabian; and on finance by partner Jennifer Van Driesen. With exception of Mr. Kaufman, who is based in Silicon Valley, and Ms. Bauer, who is based in San Diego, the deal team is based in Washington, D.C.