Windstream Holdings Inc. announced recently that it sold its EarthLink consumer internet business to private equity firm Trive Capital for $330 million in cash. EarthLink consumer internet business provides internet access, online back-up, web design, web hosting and various email services to over 600,000 customers in the U.S. In 2017, Windstream had acquired the business as part of its merger with EarthLink.
Windstream is a provider of voice and data network communications services, and is the ninth largest residential telephone provider in the U.S. Regarding the company’s decision to sell its EarthLink consumer internet segment, Tony Thomas - president and CEO of Windstream - announced, "This transaction enables us to divest a non-core segment and focus exclusively on our two largest business units. In addition, it improves our credit profile and metrics in 2019 and beyond".
Trive suggested that it hopes to provide more resources to bolster the EarthLink brand’s reach and performance.