PAETEC Holding Corp.

"PAETEC" redirects here. For the soccer stadium formerly known as PAETEC Park, see Sahlen's Stadium.
PAETEC Holding Corporation
Public
Traded as NASDAQ: PAET
Industry Business voice and data telecommunications
Fate acquired by Windstream Communications
Founded Rochester, New York May 1998 (1998-05)
Defunct December 2011
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 Increase US$1624 million (2010)[1]
Decrease US$45 million (2010)[1]
Decrease US$(58 million) (2010)[1]
Total assets Increase US$2008 million (2010)[1]
Total equity Decrease US$137 million (2010)[1]
Number of employees
 Increase 4639 (2010)[1]
Subsidiaries 47 total (2010)[2]
Website www.paetec.com

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.

Awards and recognition

PAETEC was the recipient of various local and national business awards.

Mergers and acquisitions

PAETEC owned the naming rights to PAETEC Park, a soccer-specific stadium in nearby Rochester, New York, from its opening in 2006 to 2008.

Name origin

Former headquarters in Perinton, New York, now a Windstream regional office

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.

Controversy

Since its acquisition, PAETEC has been listed several times as the provider of VOIP services to phone scammers.[4][5][6]

Other

References

  1. 1 2 3 4 5 6 PAETEC Holding Corporation (2011-03-16), FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2010, Washington, D.C.: U.S. Securities and Exchange Commission, File 000-52486, film 11692382, retrieved 2011-03-28
  2. ↑ PAETEC Holding Corporation (2011-03-16), FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2010, Washington, D.C.: U.S. Securities and Exchange Commission, Exhibit 21, File 000-52486, film 11692382, retrieved 2011-03-28
  3. ↑ Daneman, Matthew (2010-08-06). "PAETEC cuts loss to $7.5M". Democrat and Chronicle. Retrieved 2010-08-11. 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.
  4. ↑ "complaintwire.org".
  5. ↑ "Ripoff Report".
  6. ↑ "Who Calls Me".
  7. ↑ "?". Rochester Business Journal. October 16, 2007. Archived from the original on October 17, 2007.
  8. ↑ Rochester Institute of Technology. "Imagine RIT Innovation and Creativity Festival". Retrieved 2008-04-19.
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