MegaPath Sells Managed Services Business

MegaPath, the provider of cloud and broadband services which has major operations in Orange County, said Thursday that it has sold its managed services businesss to GTT Communication. The deal is worth $152.3M, split between $144.8M in cash plus $7.5M in stock. MegaPath's Managed Services division provided private networking, access services, and managed security services to enterprise clients. MegaPath's headquarters are in Pleasanton, California, but the company got its start in Costa Mesa before merging with Covad and Speakeasy.