SAN JOSE, Calif., April 8, 2011 – MegaPath Inc., one of the leading providers of managed data, voice, and security services in North America, today announced that it has completed the sale of its NextWeb, Inc. subsidiary, dba Covad Wireless, to TelePacific Communications.
MegaPath is privately-held and financial terms of the deal were not disclosed. MegaPath’s exclusive financial advisor was Waller Capital Partners, LLC, and its exclusive legal advisor was Bingham McCutchen LLP.
"As MegaPath continues to focus on providing customers with leading-edge, fully-managed voice security and connectivity services nationwide, Covad Wireless’ regional offerings did not support our corporate objectives," said D. Craig Young, Chairman and CEO, MegaPath. "This agreement ensures that those customers are properly supported and allows MegaPath to direct our efforts toward services that will deliver the most value to our customers and support our strategic long-term goals."
MegaPath is a leading business communications and network provider that helps businesses fully leverage the cloud. MegaPath’s award-winning service portfolio includes Voice, Unified Communications, SD-WAN, WiFi, and Internet services, backed by dedicated project management and 100% US-based technical support. MegaPath is uniquely positioned to deliver custom managed solutions to businesses that desire a broad range of high-value services from a single nationwide provider. With over twenty years of expertise, MegaPath empowers businesses of all sizes to simplify operations, improve communications, increase productivity, and lower costs.
To learn more about MegaPath’s leading service offerings, please visit www.megapath.com.
MegaPath Media Contact:
Welz & Weisel Communications