ATLANTA, GEORGIA (April 2008) - On February 29, 2008, Digitel Corporation (“Digitel”) completed the sale of its NeoNova Network Services, Inc. division (“NeoNova”) to Azure Capital Partners and Bridgescale Partners.   

Based in Raleigh, NC, NeoNova is the leading provider of wholesale internet services to U.S. rural telephone and cable service providers. NeoNova’s service offering includes internet, e-mail hosting, spam filtering, virus filtering, parental controls, website hosting, online data storage, troubleshooting system monitoring, maintenance, customer care and billing services. NeoNova currently provides services to over 65 independent telephone companies with over 200,000 ISP subscribers.  

Digitel Corporation is a leading provider of communications systems for small and medium sized businesses. As a leading distributor for Nortel Networks and Cisco Systems, Digitel offers its clients a complete array of unified communication solutions including IP telephony, unified messaging, multi-media contact centers, VPN services, wireless communications and connectivity alternatives. 

Navigant Capital Advisors, LLC (“NCA”) was engaged as Digitel’s exclusive financial advisor to explore various capital and strategic alternatives including the sale of its rapidly growing NeoNova division. NCA worked closely with Digitel’s shareholders and management to identify various liquidity and recapitalization alternatives. In positioning to a diverse group of potential acquirers, NCA was successful in highlighting (i) the unique growth opportunities in providing outsourced services to the independent telephone market and (ii) NeoNova’s leadership position within its core markets.