Covad Communications acquired fixed wireless Internet provider NextWeb for $24.7 million. Covad will pay $4 million in cash, exchange $19 million in Covad shares and assume $1.7 million in debt. NextWeb claims nearly 3,000 business customers in California and Nevada. The company was attracted to NextWeb because the deal reduces Covad's reliance on copper while complementing its existing pre-WiMax technical trials in San Francisco. NextWeb just completed a series of acquisitions of its own, including SkuPipeline, WorldWide Wireless and 1st Universe.
For more on the Covad, NextWeb deal:
- read this piece from Wireless Week