CLEC gets new lease on life

DSL.net to soon find a new parent.

MegaPath says it will soon acquire DSL.net.

MegaPath, which offers secure VPN, security and other IP services to small, midsize and large businesses, is “hoping to next month [November],” officially acquire the CLEC, according Greg Davis, vice president of marketing at the service provider,.

In August the companies announced that MegaPath made a “strategic investment” in DSL.net.

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MegaPath says it will soon acquire DSL.net.

MegaPath, which offers secure VPN, security and other IP services to small, midsize and large businesses, is “hoping to next month [November],” officially acquire the CLEC, according Greg Davis, vice president of marketing at the service provider,.

In August the companies announced that MegaPath made a “strategic investment” in DSL.net.

The investment came eight months after DSL.net was delisted.

DSL.net offers broadband Internet access services to business users in 11 states plus Washington, D.C. The states are Connecticut, Delaware, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont and Virginia.

MegaPath has been waiting to get DSL.net’s CLEC licenses transferred over to MegaPath before it will convert its investment, Davis says.

The investment was funded in part by MegaPath’s investors, including Fidelity Ventures, Rho Ventures and Boston Millennia Partners.

MegaPath is on a buying streak. Netifice and MegaPath merged in May three months after announcing their intent. DSL.net will be MegaPath’s second acquisition this year.

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