Covad and MegaPath announced plans to merge into a single company. Pending federal and state regulatory approvals, the transaction will create one of the largest managed service local exchange carriers (MSLEC) in the U.S. Financial terms were not disclosed.
Covad provides a wide range of access and hub aggregation services, including Ethernet, DSL, and T1. It operates a nationwide IP/MPLS network and its network footprint encompasses some 4,400 central offices (COs) in 45 states and 240 metropolitan statistical areas. Covad wholesale partners include leading providers such as AT&T, Verizon Business, and Sprint. The company is based in San Jose, California.
MegaPath provides managed IP communications services across North America. It also operates a nation-wide MPLS backbone with POPs in 30 major cities MegaPath is based in Costa Mesa, California.
“We will continue to provide innovative services and superior automation to our wholesale partners, and by adding MegaPath’s leading managed service offerings, we will further enhance the value we deliver to the market,” said Pat Bennett, CEO of Covad , who will continue as Chief Executive Officer.
The combined businesses will be owned by Platinum and MegaPath investors.
http://www.covad.com
http://www.megapath.com
