📅 - Web hosting and integrated voice and data communications provider Covad Communications Group (covad.com) has entered into an agreement to acquire most of the assets of Chicago-based broadband wireless provider DataFlo Communications (dataflo.net). The transaction is expected to close later this month and will be the sixth market added to Covad's broadband wireless coverage area, in an addressable market of over 170,000 small businesses.
The acquisition complements Covad's existing broadband coverage area in the Chicago market, enabling the company to meet the data, voice and wireless needs of Chicago-area businesses. By adding broadband wireless to its portfolio of services, Covad can now target larger businesses with high-capacity service, with data speeds between 2Mbps and 45Mbps.
"By acquiring DataFlo, we will gain a wireless coverage area in Chicago where there is strong small and medium-sized business growth," says Patrick Bennett, executive VP of market development for Covad. "DataFlo's wireless network also complements our existing wireline coverage area in that market. By introducing wireless in Chicago we will also be able to meet the needs of larger businesses with our high-capacity service."
Covad now offers broadband wireless in Chicago, Los Angeles, San Francisco, San Diego, Orange County and Las Vegas. Covad will acquire substantially all the assets of DataFlo for approximately $1.4 million in cash. For 2006, DataFlo expects to generate approximately $1 million in revenue.
Reads: 1505 | Category: General | Source: TheWHIR : Web Host Industry Reviews URL source: http://www.thewhir.com/marketwatch/110606_Covad_to_Acquire_DataFlo.cfm
Want to add a website news or press release ? Just do it, it's free! Use add web hosting news!
Related news
📅 - Covad Acquired by Platinum Equity - Telecommunications provider Covad Communications Group (covad.com) announced on Monday that it has agreed to be acquired by Platinum Equity (platinumequity.com) for approximately $304 million in cash. Platinum will pay $1.02 for each of Covad's approximately 298 million shares outstanding. The deal price represents a premium of 59 percent to the stock's closing price of 64 cents on Friday.The purchase must be approved by Covad's shareholders as well as Federal Communications Commission and state public utility commissions in many of the states in which Covad operates. The deal is expected to close in the second quarter of 2008."Platinum's approach will b
📅 - Covad Offers McAfee Services - Web hosting provider Covad (covad.com) announced on Thursday that it has partnered with security solution provider McAfee (mcafee.com) to offer its customers McAfee Total Protection for Small Business services. The company says this follows its earlier release of enhanced email and Web hosting services to enable small businesses to quickly and easily establish a professional Internet presence with minimal cost. McAfee Total Protection for Small Business provides an all-in-one service that manages updates automatically to protect desktops and servers against emerging threats, says the company. The product includes anti-virus and anti-spyware protection for desktop PCs and fi
📅 - EMC and Vitalstream Deliver Video Email for Covad and the Oakland A?s - Internet-focused PR firm Electronic Media Communications (emcnews.com), and Internet broadcasting specialists Vitalstream (vitalstream.com -> inap.com) delivered a video email to several thousand baseball fans in northern California Wednesday, on behalf of Covad Communications (covad.com) and the Oakland Athletics. The email was designed to support the partnership whereby Covad, a provider of broadband DSL technology, is the official broadband provider to the 2000 American League West champions. According to Jim Bloom, director of marketing for the Oakland A?s, the team's local fan base is one of the most technology savvy in the league. ?Together with Covad, we have succe
📅 - Covad Emerges From Bankruptcy Robert B. Marks - DSL and broadband access firm Covad Communications (Covad.com) said yesterday it had emerged from bankruptcy after paying bondholders a pre-negotiated amount that eliminated $1.4 billion in high-yield debt. Last week, the US Bankruptcy Court for the District of Delaware approved a combination of cash and 15% ownership of the company. Covad paid close to $270 million and issued approximately 35 million shares of common stock to its bondholders. An additional 9 million shares of common stock were issued to settle class action lawsuits and other claims regarding the company's reorganization plan, filed on August 15, 2001. The pre-existing shareholders will still retain approximately
📅 - Covad Purchases InternetConnect to Offer Ongoing Service - Covad Communications (covad.com), a national broadband services provider, bought substantially all of the assets of InternetConnect (internetconnect.net) in an auction supervised by the US Bankruptcy Court for the Central District of California. This purchase assures all InternetConnect customers on the Covad DSL network will be offered virtually uninterrupted broadband service for their business and residential use. The purchase price for the assets of InternetConnect, a Torrance, Calif.-based Internet Service Provider which has been in bankruptcy since May 2001, was $7.35 million. Covad did not assume any liabilities or obligations of InternetConnect but will fund any
📅 - Web hosting and integrated voice and data communications provider Covad Communications Group (covad.com) has entered into an agreement to acquire most of the assets of Chicago-based broadband wireless provider DataFlo Communications (dataflo.net). The transaction is expected to close later this month and will be the sixth market added to Covad's broadband wireless coverage area, in an addressable market of over 170,000 small businesses. 
Reads: 1505 | Category: General | Source: TheWHIR : Web Host Industry Reviews