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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 […]

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 […]

EarthLink will not Further Fund Helio

Glitz-and-glamour MVNO Helio LLC will receive up to $270 million in fresh capital from parent company SK Telecom, it was reported today. But the Korean giant will fly solo; Helios other parent, EarthLink Inc., which previously reported Helio as a drag on its finances, has no plans to further fund its MVNO offspring, it said. […]

VoIP Inc. Expands National Network Infrastructure

VoIP Inc., a leading provider of turnkey VoIP communications solutions for service providers, resellers and consumers worldwide, announced that it has doubled the size of its existing national network infrastructure to accommodate additional customers and increased traffic. In addition, this expansion includes the further build out of the company’s own facilities, which replace and expand […]

PAETEC to Grow Yet Larger Through McLeodUSA Deal

Folks thought something was awry when McLeodUSA Inc.s silent period leading to what wouldve been its second IPO dragged on for months. Then news came today that the privately-owned CLEC is to be bought by PAETEC Holding Corp. in an all-stock merger worth $557 million. The deal, which consists of $492 million in PAETEC common […]

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