Tuesday, August 29, 2006

MegaPath To Acquire DSL.net, Gets Equity Investment

Costa Mesa-based MegaPath, a provider of VPN and managed IP services, announced today that it has made a strategic investment in DSL.net, a over the counter traded firm that provides broadband communications services, as it looks to acquire the firm. MegaPath said that the investment would allow it to acquire substantially all of the equity of DSL.net. MegaPath also said that it received additional funding from existing MegaPath investors for the deal. Amount of the funding was not disclosed. Megapath was formerly known as Netifice, and is backed by Boston Millennia Partners, Columpia Capital, Fidelity Ventures, Rho Ventures, Trident Capital, and USVP. More information »