- FBI warns Hit Man e-mail scammer back
- 20 tech habits to improve your life
- Industry mourns slain Cisco exec
- 10 Firefox add-ons for better browsing
- Wireless LANs face scaling challenges
Newsletters | Podcasts | Chats | Opinions | RSS Feeds | This Week In Print | IT Careers | Community | Reports | Downloads | Slideshows | New Data Center
Partner Sites:App Performance | On Demand Security | Networking Solution | SOA | Value of WDS
Platinum Equity plans to acquire Covad Communications Corp. for about US$304 million, making the communications services company the latest technology company to sell to a private-equity firm.
Platinum expect to US$1.02 in cash per share for Covad, a 59% premium over Covad's closing price Friday on the American Stock Exchange, the companies announced Sunday. The acquisition is expected to close by the end of the second quarter of 2008.
San Jose, Calif.-based Covad provides voice and data services such as VoIP and DSL to businesses, specifically small and medium-size enterprises.
In June, Covad cut 8% of its staff as part of a restructuring that also saw the company take a $1.5 million charge for Q2 2007.
It is due to report third-quarter results Tuesday. The company reported a loss of $11.6 million for the second quarter of this year.
Private equity firms have been particularly active in acquiring technology companies this year. TPG Capital and Goldman Sachs bought Alltel Corp. in May for $27.5 billion, with TPG and Silver Lake Partners snapping up Avaya for US$8.2 billion a few weeks later.
Rss FeedRss Feed
Discover the capabilities your file integrity monitoring solution should have to effectively secure...
6 Simple Steps to Disaster Recovery PlanningDiscover the six simple steps you can take today to create - or bolster - your disaster recovery...
Toward More Flexible, Next-Generation Collaboration SolutionsA recent study by CIO Magazine and IDG Research Services found that while collaboration tools are...
The standard for Power over Ethernet (PoE), IEEE Std. 802.3af(tm)-2003, advanced networking,...
Harnessing the power of communications to increase workplace performanceDue to the convergence of IT and telecommunications technologies, the business workplace has been...
Stay out of the headlines: Detecting and preventing network intrusionsHow do YOU stay out of the headlines? There is no denying that risk exists in our computer-driven...
Discover how Software as a Service is the economical alternative to expensive on-site software,...
| NetworkWorld, Inc. | About Network World, Inc. | Advertise | Careers | Contact us | Terms of Service/Privacy | Reprints and links | Partnerships | Press room | Subscribe to NW |
| IDG, Inc. | CIO | Computerworld | CSO | Demo | GamePro | Games.net | IDGconnect.com | IDG World Expo | Infoworld | JavaWorld.com | LinuxWorld.com | MacUser | Macworld | PC World | Playlistmag.com | The Industry Standard | IDG List Services | IDG TechNetwork |
 |
Copyright © 1994-2008 Network World, Inc. All rights reserved. |
Partner Content
Company Description
Emerson Network Power and its Liebert power and cooling technologies increase IT system flexibility and availability, while lowering the total cost of ownership.
Power and Cooling Guidelines
Learn how to optimize power and cooling in network access rooms to keep equipment operating at peak performance and proactively monitor changes.
Download this white paper
Business-Critical Continuity
Read about Sequent and how they implemented a new data center to meet current requirements while easily scaling to support projected growth.
Download this case study
Cutting Energy Costs
Reduce cooling system energy costs by 30 to 45 percent through five data center efficiency strategies.
Download this white paper
Comments (2)
Not exactly trueBy Jeff Caruso on January 3, 2008, 2:33 pm Covad states that the company laid off just 11 field service techs, leaving 250 still at the company. Jeff Caruso Network World Site Editor
Reply | Read entire comment
RE: Covad sells to private-equity firm for millionBy Mario Encarnacion on January 1, 2008, 5:07 amCovad laid off all their field service tech's in december of 07
Reply | Read entire comment
View all comments