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SAN JOSE, Calif.—DSL provider Covad Communications Group Inc. said it completed its acquisition of broadband wireless carrier NextWeb Inc.
The $3.9 million cash-and-stock deal was announced in October.
Fremont, Calif.-based NextWeb serves about 3,000 business customers in California and Nevada with its pre-WiMAX network. The company said its network covers more than 200,000 business locations in the San Francisco Bay area, Los Angeles, parts of central California and Las Vegas.
NextWeb had about $10 million in revenues last year and has been EBITDA and cash-flow positive since the end of 2003, said the companies.
