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Today's Deals: Covad Heading into Spain

Baltimore Technologies + Content Technologies, Covad Communications + Loop Telecom, Homestore.com + The Hessel Group, O2, Essential Marketing Technologies + LookSonic.com, vitacost.com + MotherNature.com, Watchout! + Cormax Businesss Solutions







 Covad Communications (COVD) purchases stake in Loop Telecom

 

   *  Amount:         $50 million

 

   *  Terms:            n/a
 

   *  Premium:        n/a

 

   *  Industry:        ISPs/Access providers

 

   *  Scorecard:      B

 


    SANTA CLARA, Sept. 14--Covad Communications , a U.S.-based broadband services provider utilizing DSL technology, and its newly formed Covad Communications International, B.V., announced its first European investment, an agreement to purchase a majority share of Loop Telecom, Spain's first full-service broadband service provider for small and medium sized businesses. Under the agreement, Covad will acquire Loop Holdings Europe AsP, which holds shares representing a 70% interest in privately held Loop Telecom, for $15 million US and notes for additional payments of $15 million US six months after close and $20 million US one year after close.

     

 



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