3 Comments

Summary:

The very same day when the courts decide to play the spoiler in the UNE-P party, Covad, which I have often called the real VoIP/Broadband player makes an interesting move: it acquires GoBeam for about $48 million. Covad will acquire GoBeam, including its assets and intellectual […]

The very same day when the courts decide to play the spoiler in the UNE-P party, Covad, which I have often called the real VoIP/Broadband player makes an interesting move: it acquires GoBeam for about $48 million.

Covad will acquire GoBeam, including its assets and intellectual property in a transaction valued at $48 million that is expected to close in May of this year, subject to customary closing conditions. GoBeam’s stockholders will receive Covad shares in exchange for their GoBeam shares. GoBeam, which is based is Pleasanton, California, currently has more than 13,000 VoIP stations (telephones) serving business customers throughout California and in the Chicago, Illinois area.

Clearly proves the point that the Bells and their cronies are fighting a losing battle when trying to defend UNE-P. The real threat is VoIP. Covad just raised the stakes.

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  1. Andy Abramson Wednesday, March 3, 2004

    Reports from former sales team @ GoBEAM members are that they have no sales momentum, that much of the team that generated the current seats are gone, that the technology is faulty; and that Covad will have to do lots of work to make it work…

    Sounds like a deal done by VC’s not M&A guys…

    Andy

  2. Andy,
    Please elaborate.

  3. North American Bandwidth News Wednesday, March 3, 2004

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