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Company type | Public |
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NASDAQ: PAET | |
Industry | Business voice and data telecommunications |
Founded | Rochester, New York May 1998 |
Defunct | December 2011 |
Fate | acquired by Windstream Communications |
Headquarters | Perinton, New York |
Area served | California, Delaware, Florida, Iowa, Michigan, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Virginia |
Key people | Arunas A. Chesonis, CEO, Chairman, & Founder of PAETEC Richard T. Aab, Vice Chairman & Co-Founder of US LEC |
Services | Voice services Data services Software solutions Customer premises equipment leasing Managed services |
Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Number of employees | ![]() |
Subsidiaries | 47 total (2010) [2] |
Website | www |
PAETEC Holding Corporation was a Fortune 1000 telecommunications company headquartered in Perinton, New York, United States. [3] It was founded as the private company PaeTec Communications, Inc. in 1998 by Arunas A. Chesonis. In 2007 it merged with US LEC and then Cavalier Telephone Company and became a publicly traded company, and in 2011 it was acquired by Windstream Communications.
PAETEC provided local and long-distance voice services, data and Internet services, and software applications, among others. PAETEC provided service to medium and large businesses, colleges and universities, hospitals, hotels, governmental organizations and other institutions within its service area.
PAETEC owned the naming rights to PAETEC Park, a soccer-specific stadium in nearby Rochester, New York, from its opening in 2006 to 2008.
The name PAETEC was derived from the initials of the first names of its founder's wife Pam and four children Adam, Erik, Tessa and Emma. In earlier days, the name was displayed as PaeTec Communications, Inc. After the acquisition of US LEC, the new merged entity became PAETEC Holding Corp., however, the company is simply referred to as PAETEC.
Since its acquisition, PAETEC (also known as STARNET PAETEC) has been listed several times as the provider of VOIP services to phone scammers. [7] [8] [9]
A Regional Bell Operating Company (RBOC) was a corporate entity created as result of the antitrust lawsuit by the U.S. Department of Justice against the American Telephone and Telegraph Company (AT&T) in 1974 and settled in the Modification of Final Judgment on January 8, 1982.
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Rochester Telephone Corporation was a company that provided local telephone service to Rochester, New York. The company was founded in 1920 as a merger of Rochester Telephonic Exchange and Rochester Telephone Company. In 1995 the company became Frontier Corporation, trading on the NYSE under the FRO symbol. Ownership passed to Global Crossing in 1999, and then, in 2001, to Citizens Utilities Corporation, which later changed its name to Frontier Communications.
The monopoly position of the Bell System in the U.S. was ended on January 8, 1982, by a consent decree providing that AT&T Corporation would, as had been initially proposed by AT&T, relinquish control of the Bell Operating Companies, which had provided local telephone service in the United States. AT&T would continue to be a provider of long-distance service, while the now-independent Regional Bell Operating Companies (RBOCs), nicknamed the "Baby Bells", would provide local service, and would no longer be directly supplied with equipment from AT&T subsidiary Western Electric.
Innovate Corp. is an American public financial services company founded in 1994.
McLeodUSA, based in Cedar Rapids, Iowa, was one of the nation's largest independent competitive local exchange carriers (CLECs) during the years preceding its acquisition in 2008. The company also had offices in Springfield, Missouri, Tulsa, Oklahoma, and The Woodlands, Texas.
Windstream Holdings, Inc., also doing business as Windstream Communications or Windstream, is a provider of voice and data network communications, and managed services, to businesses in the United States. The company also offers residential broadband, phone and digital streaming TV services to consumers within its coverage area. It is the ninth largest residential telephone provider in the country with service covering more than 8.1 million people in 21 states.
Broadview Networks is a network-based electronically integrated communications provider serving small and medium-sized businesses in the Northeastern and Mid-Atlantic United States. The Company offers local, long-distance and international voice services; data services that encompass VPN and MPLS enabled offerings; hosted and premises-based VOIP systems; traditional telephone systems; and Internet access services using digital subscriber line (DSL) and related technologies.
Airspan Networks is an American telecommunications company headquartered in Boca Raton, Florida. The company develops Radio Access Network technology including the Sprint 'Magic Box' and cells for the Rakuten virtualized network.
Cavalier Telephone is an American Local Exchange Carrier (NRCLEC) company, owned by parent company Windstream Communications operating in 16 states and DC throughout the eastern US. Cavalier founded in 1998, is an internet and telecommunications service provider, currently it provides voice, data services to businesses, residential, and government customers on a private network.
Qwest Communications International, Inc. was a United States telecommunications carrier. Qwest provided local service in 14 western and midwestern U.S. states: Arizona, Colorado, Idaho, Iowa, Minnesota, Montana, Nebraska, New Mexico, North Dakota, Oregon, South Dakota, Texas, Utah, Washington, and Wyoming.
The Bell System was a system of telecommunication companies, led by the Bell Telephone Company and later by the American Telephone and Telegraph Company (AT&T), that dominated the telephone services industry in North America for over 100 years from its creation in 1877 until its antitrust breakup in 1983. The system of companies was often colloquially called Ma Bell, as it held a vertical monopoly over telecommunication products and services in most areas of the United States and Canada. At the time of the breakup of the Bell System in the early 1980s, it had assets of $150 billion and employed over one million people.
PAETEC Headquarters was a building proposed and approved for construction in Rochester, New York. It was to serve as the new headquarters for the Rochester-based telecommunications company, PAETEC Holding Corp. Its original proposed height was 40 floors, with a LEED-certified rooftop garden and was originally slated for completion in 2012. The proposed PAETEC building would have sat on the southeast corner of the intersection of Main Street and Clinton Avenue, taking advantage of both the refreshed (abated) skeletal structure of the former Seneca Building and adjacency to an enormous underground parking facility (1600+spaces) and truck tunnel. In addition to reusing the Seneca structure, PAETEC revealed plans at an RDDC luncheon in June 2010 that detailed the construction of a semi-transparent NOC on the north side of the building with viewing lines for pedestrians into its command center, additional office space on the south side of the structure, as well as retail on the first floor.
Arunas A. Chesonis is Chairman of the Board and CEO of Sweetwater Energy, a Rochester, New York renewable energy company. His appointment was announced on December 16, 2011. Chesonis previously served as the chairman of the board, president, and chief executive officer of PAETEC Corp. since May 1998, when he founded the company. In 2011, Chesonis sold PAETEC to Windstream Communications for $2.3 billion.
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PAETEC Holding Corp. is edging closer to — but still falling short of — profitability. The Perinton-based telecommunications company reported a loss of $7.5 million for the quarter that ended June 30, an improvement from the $16.5 million it lost in the same quarter a year earlier and from the $9.5 million it lost in the January–March quarter this year.