Covad buys assets of bankrupt ISP
DSL provider Covad Communications has bought substantially all the assets of California-based broadband ISP InternetConnect out of bankruptcy.
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Valued at $7.35 million, the purchase includes InternetConnect’s accounts receivable, cash, equipment and about 9250 lines, including DSL, T1 connections, and VPN customers. About 60% of these customers are located in the Boston, Chicago, Los Angeles, San Diego, San Francisco and Washington D.C. markets.
Covad, which emerged from bankruptcy last month, will transition the assets during a 90-day period.
--Toby Weber, staff writer
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© 2012 Penton Media Inc.
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