Content area
Full Text
Netifice and MegaPath. two companies that offer secure broadband services to corporations with thousands of sites, are joining forces.
Netifice is acquiring MegaPath for stock and cash. Financial details were not disclosed.
"Both of our companies, management and investors, have been looking for ways to scale the business and establish more reach in the market,"says CraigYoung, CEO at Netifice. He says Netifice began its search for a partner about five months ago and that talks began heating up with MegaPath about one month ago.
"We had absolute agreement between our investors and management that putting these two companies together would create a powerhouse in the industry of managed IP services,"Young says.
The joined companies are expected to bring in about $125 million...