In response to industry changes, Vancouver-headquartered Integra Telecom announced on Thursday that its business unit known as Electric Lightwave is splitting into a standalone company.
The company said the value propositions for Integra and Electric Lightwave are increasingly different in today’s market and the split allows each business to better focus its resources. The separation involves Integra’s 600+ employees, customers and presently fully-shared network and support infrastructure.
“Electric Lightwave is in a unique position to capitalize on favorable market dynamics and I’m confident that these strategic steps we’re announcing today will allow us to increase our already significant momentum,” said Bob Guth, executive chairman.
Moving forward, Electric Lightwave will continue to focus on serving large businesses, public institutions and carriers with fiber-optic communications services. Integra will focus on serving small‐ and medium‐sized businesses with communications services, under its own strategic direction and focus.
“Through operational and financial separation, we are focusing our capital investments and aligning human resources toward the attractive growth opportunities at Electric Lightwave, including the continued investment in high-return, success-based capital projects,” added CFO Jesse Selnick.
Approximately 83 percent of the company’s workforce will now be Electric Lightwave-dedicated. The remaining 17 percent will be Integra-dedicated.
The company did not say whether the split would trigger any sort of move from its east Vancouver headquarters.
The corporate entity that owns the Electric Lightwave and Integra operating entities will be renamed Electric Lightwave.
This story will be updated
