US LEC Buys 37.5% Ownership Stake in Video on Demand Firm
Posted April 13, 2006 7:27 a.m. EDT
CHARLOTTE, N.C. — US LEC
, a provider of telecommunications services for businesses across the Southeast, is taking a 37.5 percent ownership stake in ExtreamTV.
The Boston-based firm provides video-on-demand and high speed Internet solutions to hospitality, resort and timeshare companies.
US LEC is investing $2.5 million in ExtreamTV as part of its effort to provide more services for businesses, the company said.
"A key to US LEC's success over the past 10 years has been our ability to expand our product suite by adding innovative services that solve the needs of businesses," said US LEC Chief Executive Officer Aaron Cowell in a statement. "Our partnership with ExtreamTV enhances our achievements with the addition of digital video-on-demand, and we are excited about the triple play opportunity for new and existing customers in the hospitality industry, where US LEC continues to experience success."