Megapath, Covad, Speakeasy complete 3-part merger

With the completion of their previously announced merger, the newly combined trio of MegaPath, Covad and Speakeasy will create yet another new category for the SMB and wholesale telecom segment--the Managed Services Local Exchange Carrier (MSLEC).   

Retaining the MegaPath name, the new company will have over 85,000 business customers and over 4,500 carrier partners in the U.S. As a privately held company, MegaPath did not reveal the financial terms of the deal.

MegaPath will provide a suite of voice, access, private networking and managed security services through their new Wholesale Markets and their Business Markets divisions. The company has also retooled its management team with D. Craig Young, former CEO of MegaPath, as the company's Chairman and CEO; Pat Bennett, Covad's former CEO, as Chief Strategy Officer and Head of Wholesale Markets; and Bruce Chatterley, former CEO of Speakeasy, as President of the Business Markets.

Young said in a release announcing the completion of the deal that the value of the newly combined company is that they can provide SMBs with similar services and support typically only delivered to larger enterprise clients. "Small, medium and large enterprises will now benefit from a new service provider that is willing to invest in advanced services, while remaining heavily focused on customer service," he said.

For more:
- see the release here

Related articles:
Covad, MegaPath decide to merge
Fierce Telecom Leaders: Pat Bennett, Covad and Dan Foster, MegaPath
Speakeasy joins forces with MegaPath and Covad

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