M&A Deal Summary

Covad Communications Group Acquires NextWeb

On February 21, 2006, Covad Communications Group acquired internet software and services company NextWeb for 25M USD

Acquisition Highlights
  • This is Covad Communications Group’s 1st transaction in the Internet Software and Services sector.
  • This is Covad Communications Group’s largest (disclosed) transaction.
  • This is Covad Communications Group’s 1st transaction in the United States.
  • This is Covad Communications Group’s 1st transaction in Washington.
Investment Fate
  • NextWeb was divested to a consortium of strategic buyers in 2010.

M&A Deal Summary
Date 2006-02-21
Target NextWeb
Sector Internet Software and Services
Buyer(s) Covad Communications Group
Deal Type Add-on Acquisition
Deal Value 25M USD
Advisor(s) Blue Beacon Capital LLC (Financial)

Target

NextWeb

Seattle, Washington, United States
NextWeb, Inc. (dba Covad Wireless) delivers business-class broadband service to small and medium-sized businesses at speeds up to 100 megabits per second (Mbps), complementing Covad’s existing portfolio of data solutions.

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Buyer(S) 1

Buyer

Covad Communications Group

San Jose, California, United States

website

Category Company
Founded 1997
Sector Communications
Employees775
DESCRIPTION

Covad provides a wide range of access and hub aggregation services, including Ethernet, T1, and DSL. Covad manages a robust, next-generation IP/MPLS network that efficiently delivers integrated voice, video, and data solutions. Covad broadband services are currently available in 45 states and 240 major metropolitan areas, and can be purchased by approximately 11 million businesses, representing over 60 percent of all U.S. businesses.

DEAL STATS #
Overall 1 of 1
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Washington) 1 of 1
Country (United States) 1 of 1
Year (2006) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-23 NextWeb

Seattle, Washington, United States

NextWeb, Inc. (dba Covad Wireless) delivers business-class broadband service to small and medium-sized businesses at speeds up to 100 megabits per second (Mbps), complementing Covad’s existing portfolio of data solutions.

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