Financial


  • Level 3 Acquires Some AT&T Assets
    Level 3 Communications Inc. said Tuesday it has purchased certain assets from AT&T Inc. that were divested as a result of the merger between AT&T and BellSouth. The assets consist of indefeasible rights of use (IRUs) for dark fiber connections to 27 buildings as ...More
    October 16, 2007 Posted in News
  • Nortel Settles for $35 million With SEC
    Nortel Networks will pay the Securities and Exchange Commission $35 million to settle a revenue and earnings management fraud lawsuit, the company said Monday. The equipment maker also said it will take steps to prevent such fraud in the future, including providing the SEC ...More
    October 15, 2007 Posted in News
  • Level 3 Stocks Drop on CFO News
    Level 3 Communications Inc. shares fell nearly 9 percent by early afternoon on news that the company is looking for a new CFO. Level 3’s stock was trading for $4.47, down 8.78 percent from the opening price of $4.75. CEO James Crowe said CFO Sunit Patel will remain with ...More
    October 15, 2007 Posted in News
  • PAETEC Buys Allworx on Heels of McLeodUSA Deal
    About a month after announcing the acquisition of McLeodUSA Inc., PAETEC Holding Corp. said it also will buy equipment maker Allworx Corp. PAETEC will pay $25 million in cash. Allworx will become a PAETEC subsidiary. SMBs make up a large part of McLeodUSA’s customer base. ...More
    October 12, 2007 By Kelly Teal Posted in News
  • Virgin Mobile Holds Steady on the NYSE
    Virgin Mobile USA Inc. were trading slightly above the target opening price of $15 per share on Friday, a day after the MVNO went public on the New York Stock Exchange. That share price was a little lower than the expected $15-$17 range. Virgin Mobile offered 27.5 million ...More
    October 12, 2007 By Kelly Teal Posted in News
  • Voda One, Avaya Financial Services Enhance Funding Program
    Westcon Group Inc. said Wednesday its Voda One business practice has teamed with Avaya Financial Services to deliver additional funding capabilities to its customer reseller base. Voda One resellers can use the enhanced Advanced Funding program to receive capital funding ...More
    October 10, 2007 Posted in News
  • Matisse Raises $45 Million to Expand Sales, Marketing of Its EtherBurst Optical Switch
    Matisse Networks (Booth 626) closed a $45 million Series C financing round to expand the sales, marketing and development of the EtherBurst optical switch. Merrill Lynch PCG invested $35 million in the round, which included Menlo Ventures, Monitor Ventures, Walden ...More
    October 9, 2007 Posted in Articles, Ethernet/ MPLS
  • NuVox Launches New Sales Channel Program
    Building on the momentum of its recent merger with FDN, service provider NuVox Communications Inc. (Booth 911, and COMPTEL sponsor), announced a new strategic sales channel that will provide wholesale services including UNE-L, resale and carrier offerings, as well as ...More
    October 9, 2007 Posted in Articles, Voice over IP (VoIP)/IP Telephony
  • Forsee Out as Sprint CEO
    Gary Forsee, chairman and CEO of Sprint, resigned on Monday. The news came about a week after several media outlets cited anonymous sources who said the move was imminent. Forsee has come under fire from board members for Sprint’s ailing financials. Indeed, Sprint lowered ...More
    October 8, 2007 Posted in News
  • Vonage Settles With Sprint
    Vonage Holdings Corp. on Monday said it will settle its patent dispute with Sprint Nextel Corp. by paying $80 million and licensing the technology it was found guilty of illegally using. Vonage lost another patent infringement suit two weeks ago. The IP telephony company ...More
    October 8, 2007 Posted in News