M&A Deal Summary

Nextel Communications Acquires Powerfone Holdings

On April 29, 1994, Nextel Communications acquired communications company Powerfone Holdings from Providence Equity Partners for 370M USD

Acquisition Highlights
  • This is Nextel Communications’ 1st transaction in the Communications sector.
  • This is Nextel Communications’ largest (disclosed) transaction.
  • This is Nextel Communications’ 1st transaction in the United States.
  • This is Nextel Communications’ 1st transaction in Michigan.

M&A Deal Summary
Date 1994-04-29
Target Powerfone Holdings
Sector Communications
Buyer(s) Nextel Communications
Sellers(s) Providence Equity Partners
Deal Type Add-on Acquisition
Deal Value 370M USD

Target

Powerfone Holdings

Detroit, Michigan, United States
Powerfone Holdings, Inc. provides mobile radio communications services. The company is based in Detroit, Michigan.

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Buyer(S) 1

Buyer

Nextel Communications

Reston, Virginia, United States
Category Company
Founded 1987
Sector Communications
Employees19,000
DESCRIPTION

Nextel Communications, Inc. is a provider of wireless personal communications and digital dispatch services using enhanced specialized mobile radio technology.

DEAL STATS #
Overall 1 of 2
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Michigan) 1 of 1
Country (United States) 1 of 2
Year (1994) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-02-01 Chadmoore Wireless Group

Las Vegas, Nevada, United States

Chadmoore Wireless Group, Inc. holds frequencies in the 800 megahertz band for commercial specialized mobile radio service in the United State.

Buy -

Seller(S) 1

SELLER

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.

DEAL STATS #
Overall 1 of 100
Sector (Communications) 1 of 18
Type (Add-on Acquisition) 1 of 40
State (Michigan) 1 of 1
Country (United States) 1 of 68
Year (1994) 1 of 1
Size (of disclosed) 27 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1993-01-01 Brooks Fiber Properties

St. Louis, Missouri, United States

Brooks Fiber Properties, Inc. is a provider of competitive local telecommunications services, with an emphasis on secondary markets, by aggressively pursuing switched services opportunities, further building out existing systems and expanding service offerings.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1996-01-01 Verio

Englewood, Colorado, United States

Verio, Inc. is a provider of web hosting and managed services to small- and medium-sized businesses.

Buy -
Mergr

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