PAETEC on Friday closed its $557 million acquisition of privately held McLeodUSA Inc.
The deal was announced nearly five months ago, on Sept. 17, 2007. It creates the first coast-to-coast CLEC; its size and revenue surpasses that of XO Communications, Level 3 Communications Inc. and Time Warner Telecom.
PAETEC said the combined company should generate annual revenue of at least $1.6 billion and have more than 3.5 million access line equivalents.
PAETEC stock closed at $8.45 on Friday, down 15 cents.