Windstream has sold the EarthLink consumer internet business to a private equity firm, in a move the company says helps narrow focus to its two largest business units.
Windstream picked up the legacy consumer segment as part of its merger with EarthLink in February 2017.
Dallas-based buyer Trive Capital paid $330 million in cash for the business, which provides services to more than 600,000 customers across the United States.
In addition to offloading a non-core unit, the deal also improves Windstream’s credit profile and metrics “in 2019 and beyond,” company CEO Tony Thomas said in a statement.
The EarthLink consumer business provides internet access, online back-up, managed web design, web hosting and various email services.
“We are excited to partner with and support the EarthLink management team in continuing to provide great products and services available to millions of households in the United States,” said Trive Managing Partner Conner Searcy in a statement. “We intend to provide additional resources and access to deep industry relationships to help grow the brand in the coming years.”