Company type | Public |
---|---|
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 | US$1624 million (2010) [1] |
US$45 million (2010) [1] | |
US$(58 million) (2010) [1] | |
Total assets | US$2008 million (2010) [1] |
Total equity | US$137 million (2010) [1] |
Number of employees | 4639 (2010) [1] |
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]
Perinton is a town in Monroe County, New York, United States. The population was 47,479 at the 2020 census.
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RCN Corporation, originally Residential Communications Network, founded in 1993 and based in Princeton, New Jersey, was the first American facilities-based ("overbuild") provider of bundled cable telephony, cable television, and internet service delivered over its own hybrid fiber-coaxial local network as well as dialup and DSL Internet service to consumers in the Boston, Chicago, Los Angeles, New York City, the Lehigh Valley in eastern Pennsylvania, and Washington, D.C. areas.
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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.
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.