The 'new' MegaPath launches
Managed service providers Netifice and MegaPath have completed their merger and will retain the MegaPath name, the new company announced today.
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MegaPath, which provides IP-VPNs and other managed IP services to small and mid-sized businesses, will have revenues of $125 million and a customer base of 18,000.
Netifice Chairman Craig Young will be Chairman and Chief Executive Officer of the combined company, and industry veteran Jim Cragg has been appointed President and Chief Operating Officer.
As announced at the time of the merger, MegaPath CEO Brian Service has left the company.
Young announced industry veteran Jim Cragg as the new President and Chief Operating Officer of MegaPath. Cragg most recently served as a consultant, but also served in an executive role at PSINet and competitive service provider Advanced Communications Group.
The new company is also getting $35 million in funding from previous investors and will launch new marketing and sales initiatives. It will be headquartered in Costa Mesa, Calif.
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