Global telecommunications company WorldxChange Communications has bought European carrier ACC Telecom from AT&T.
The acquisition covers ACC's principal operations in the U.K., along with ACC companies in France, Germany and Italy. The purchase will give WorldxChange US$200 million in European revenue and create a company with annual revenue of $640 million, the telecom company said in a statement issued today.
The specific terms of the deal were not disclosed by the companies.
AT&T purchased ACC last year along with its acquisition of Teleport Communications Group, according to Sue Fleming, a spokeswoman for AT&T's international business.
The US telecom carrier agreed to shed ACC in order to gain approval from the European Union for its joint venture with British Telecommunications PLC (BT).
Established in the UK in 1993, ACC was one of the first companies to challenge the then two-horse local market of BT and Mercury. The carrier moved to establish itself in offering telecom services to small to medium-sized businesses and the higher education market.