Tuesday, February 21, 2006

Covad Gets 3000 Clients from Nextweb

As Covad finalizes the acquisition of NextWeb, it gains 3000 profitable customers! "NextWeb finished 2005 with revenues of approximately $10 million and has been EBITDA and cash-flow positive since December 2003. ... Covad will pay approximately $3.9 million in cash and issue approximately 16 million Covad shares in the transaction. A portion of Covad shares to be issued are restricted from sale in the open market for a period of time. " I know at least wireless provider that would like that deal with Covad! Anyone have Charles Hoffman's number?

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