MegaPath and Netifice close merger deal
NetworkWorld.com, 05/10/06
In late February, MegaPath Networks and Netifice Communications announced plans to merge, which Network World covered in a story on our Web site.
Today the companies closed that deal.
The merged entity is dropping the Netifice company name. The joined company will now be known as MegaPath Networks, but it’s really legacy Netifice that’s in charge.
Netifice’s chairman and CEO Craig Young will hold the same role at the new MegaPath. Former MegaPath CEO Brian Service has left the company post-merger.
And the company’s headquarters are in Costa Mesa, Calif., the home of legacy Netifice.
Both companies offer managed VPN and other IP services to business users around the world. The new MegaPath says it has 18,000 customers including The Leather Factory, MortgageIT, Jenny Craig and Radio Shack.
The amount of the merger deal was not disclosed. But the new MegaPath says it has over $125 million in revenue.
-Denise Pappalardo (denisep@nww.com)
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