Automated-support-systems provider Motive Communications Inc. is taking a
leap into broadband provisioning by acquiring BroadJump Inc. in a stock
transaction.
The deal has been approved by both companies' boards of directors, and it is
expected to close in December 2002.
While no estimate of the value of the deal is being released, the combined
company will have more than $100 million in revenues this year with more than
$100 million in assets. Motive will gain BroadJump's 70 percent market share in
the broadband-service-activation market, with a customer list including AT&T
Broadband, Charter Communications Inc., Cox Communications Inc. and Time Warner
Cable.
Motive president and CEO Scott Harmon will become CEO of the merged company,
while BroadJump president and CEO Kip McClanahan will assume the role of company
president.
'The combination of BroadJump's market-leading activation solutions with
Motive's proven intelligent service solutions creates a last-mile service
infrastructure for communication providers that's unmatched in the industry,'
McClanahan said in a release.
'For the first time, a single vendor is capable of providing a solution for
activation, support and value-added services to the world's top communication
companies,' he added.
