Trinsic Inc

 

Covad Shareholders Approve Platinum Takeover

Covad Communications Group Inc. stockholders have approved the companys $417 million takeover deal by Platinum Equity. An affiliate of Platinum Equity will buy all of Coads outstanding shares for the previously agreed upon price of $1.02 in cash, the companies said on Feb. 29. The FCC and two more state public utilities commissions still must […]

Covad Goes Private

An ongoing lack of profitability and problems provisioning its hosted VoIP services are two likely reasons Covad Communications Group has agreed to be bought by Platinum Equity, a private equity firm, analysts say. The companies said on Oct. 29, Platinum Equity will pay $1.02 per share, or approximately $304 million in cash, for Covad; the […]

Access, Birch Sign Merger Deal

Access Integrated Networks Inc. said today it will merge with twice-bankrupt Birch Telecom Inc. Terms of the deal were not disclosed. However, the privately held CLECs which both run agent programs said their combined annual revenue will total $200 million. They also said they will have more than 300,000 voice and data lines, 100,000 SMB […]

Platinum Equity Buys Covad

An ongoing lack of profitability and problems provisioning its hosted VoIP services are two likely reasons Covad Communications Group has agreed to be bought by Platinum Equity, a private equity firm. The companies said on Monday Platinum Equity will pay $1.02 per share, or approximately $304 million in cash for Covad; the terms represent a […]

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