equity

 

Platinum Equity Wins Trinsic Auction

Platinum Equity LLC, an investor that buys ailing companies and then runs them, has purchased bankrupt Trinsic Inc. for $25.5 million. Platinum bought Trinsic in late March after two auctions typically, there is only one. However, the first time, Trinsic tried to sell to multilevel phone marketer American Communications Network Inc. (ACN), even though Platinum […]

AITech Launches Equity Plan

Advanced Integrated Technologies Inc., a provider of wholesale and retail hosted PBX and line-replacement solutions, announced the AITech True Partner Program initiative for 2007. Our True Partner Contract is the most agent-friendly contract in the industry, says AITech CEO Greg Lohrenz. We are preparing for substantial market growth in the hosted PBX, line-replacement and data/ISP […]

Last Mile Connections Names New CEO

Last Mile Connections (LMC) said on Tuesday executive chairman Ron LeMay will take over as CEO and president. He replaces founder, president and CEO James Martino, who is stepping down after helping the company raise $33 million in investment capital. LeMay came to the company in September 2005 from Ripplewood Holdings LLC, once Ripplewood closed […]

McGraw Communications Touts Profit Sharing Program

McGraw Communications (Booths 605-607), a New York-based CLEC, announced it is offering a unique Profit Sharing Program (PSP) that enables qualified channel partners to gain equity in their customer bases. Taking a cue from industry mergers over the past few years, McGraw said it has created a program that will allow partners to continue to […]

Mpower Purchase Triggers $500,000 Agent Equity Payout

The pending aquisiton of CLEC Mpower Communications Corp. by rival TelePacific Communications will trigger more than $500,000 in payouts to Mpower agents that earned warrants in the company. JR Cook, vice president of alternate channels for Mpower, says the company issued 1,054,576 warrants to agents since the program was announced in October 2003. The total […]

CTC, Choice One to Buy Conversent

Mirroring the overall industry penchant for consolidation, CTC Communications and Choice One Communications two CLECs that have yet to complete their own merger said today they will jointly acquire Conversent Communications Inc. The move creates an even stronger competitor to the incumbent local exchange carriers like Verizon and AT&T, explained Ray Allieri, president and CEO […]

Carrier Panelists Share Strategies for Finding, Acquiring Funding

Before service providers can say show me the money, they need to understand exactly what venture capitalists and investment banks are looking for when they consider doling out funds. In the session Finance-able Service Providers: Finding and Securing Funds from Investors, panelists will discuss just what it takes to secure the public or private financing […]

MegaPath to Merge with Netifice, Expand Reach of Indirect Channels

MegaPath Networks Inc., a provider of VPN and managed IP services to businesses, said today it is merging with Netifice Communications Inc. The companies expect to close the deal in April. They did not disclose the terms of the transaction, although they did say Netifices acquisition of MegaPath involves an undisclosed amount in stock and […]

Interoute Gets Cash from Tecom

Interoute Communications Ltd., the privately held owner and operator of the i-21 voice and data network in Europe, has signed a partnership agreement with Tecom, a United Arab Emirates telecom operator and member of Dubai Holding. Under the contract, Dubai Holding (Tecom) has taken a stake in Interoute, in exchange for an equity investment totaling […]

eLEC Appoints Two Industry Execs to VoX Board

eLEC Communications Corp. has appointed two industry executives to the board supporting its subsidiary, wholesale and retail VoIP provider VoX Communications. Mark D. Adolph, COO of Telecom Partners, a private equity fund in Colorado, and Jay Allen, founder of CXO, a private collaborative organization in the Rocky Mountain region, were named to the board this […]

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