IIRC, Next web is a Axcellera shop … nice price tag for a unlicensed WISP.
Gino A. Villarini,
Aeronet Wireless Broadband Corp.
[EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Eric DaVersa
Some good industry news this morning – adds some substance to WISP valuations. We do work with both of these companies so there’s some personal reward here. Of course that places us under confidentiality and limited in commentary. <grin>
Covad to acquire NextWeb for $23 mln
Wed Oct 5, 2005 06:56 AM ET
Oct 5 (Reuters) - Covad Communications Group (DVW.A: Quote, Profile, Research) , a provider of integrated voice and data communications, on Wednesday said it agreed to acquire Internet provider NextWeb Inc. for about $23 million in cash and stock.
Covad also said it would assume $1.7 million in net debt under the deal.
"Our acquisition of NextWeb accelerates Covad's entry into the emerging wireless broadband market," Covad Chief Executive and President Charles Hoffman said in a statement.
The deal, which includes $4 million in cash and $19 million in Covad shares, is expected to close by the end of the year.
Covad said a portion of its shares to be issued would be restricted from sale in the open market for a period of time.
Privately held NextWeb is
Shares in Covad closed at $1.05 on Tuesday on the American Stock
Exchange. (Reporting by Renu Pariyadath in
Vice-President, Business Development
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