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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 McLeodUSAs customer base. PAETEC is more accustomed to selling to enterprises. By adding […]

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 shares of Class A common stock; investors […]

Vonage Wants Review of Verizon Decision

Vonage Holdings Corp. said Wednesday it has filed a motion seeking a review of a U.S. appeals courts decision on a patent dispute with Verizon Communications Inc. The court upheld on Sept. 26 a verdict that Vonage infringed on two Verizon patents. It also remanded the verdict on a third patent and ordered a review […]

Nacchio Appeals Insider Trading Conviciton

Former Qwest Communications International Inc. CEO Joseph Nacchios legal team is seeking to overturn his conviction for insider trading. Nacchios attorney, Maureen Mahoney, filed a 58-page brief with a federal appeals court Tuesday saying there was insufficient evidence for a conviction. She also said the judge gave improper jury instructions and excluded important defense testimony […]

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 International and Woodside Fund. Matisse Networks now has raised total financing of $80 million. We […]

COMPTEL Members Elect 2007-2008 Board

COMPTEL members today elected their 2007-2008 Board of Directors at the annual membership meeting. Sixteen members were elected overall: five in Large Member (companies with annual revenue more than $300 million), six in Medium Member (annual revenue of $25 million to $300 million), and five in Small Member (annual revenue of under $25 million). New […]

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 now says it’ll pay $35 million for past use of Sprint’s […]

COMPTEL Elects New Board of Directors

Members of COMPTEL will elect their 2007-08 board of directors today following the annual membership meeting at 10 a.m. Sixteen of the 27 seats are up for grabs; nominees for the positions were not disclosed. COMPTEL members will vote for five directors in the small company member category, five directors from among the medium company […]

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 International and Woodside Fund. Matisse Networks now has raised total financing of $80 million. “We […]

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