Wednesday, March 31, 2010

MegaPath Merges With Covad Communications

Costa Mesa-based MegaPath, a provider of IP, voice, and security services, has merged with broadband provider Covad Communications, the firm announced today. Financial details of the merger were not given, however, the companies said that the combined businesses will be owned by private equity firm Platinum Equity and MegaPath investors. According to the firms, pending fedreal and state regulatory approval, the merger will create one of the largest, managed service local exchange carriers (MSLECs) in the U.S. Both companies provide Ethernet, DSL, T1, and other broadband services to business customers.