Wallingford, Connecticut – (The Hosting News) – April 3, 2007 –
Broadband communications services firm, DSL.net, Inc., has merged with wholly-owned subsidiary of its indirect parent company MegaPath Inc.â€™s MDS Acquisition, Inc.
Since all outstanding shares of DSL.netâ€™s common stock, other than shares held by MDS, will be converted into the right to receive cash upon the merger, MDS has requested that the quotation of DSL.netâ€™s shares of common stock on the Over-the-Counter Bulletin Board service cease today, at market close. The merger is being effected by MDS as the Companyâ€™s greater-than-90% stockholder, without any action on the part of DSL.netâ€™s board of directors or stockholders, in accordance with Delaware law, to be effective at 5:00 p.m., Eastern Time, today. MDS, as the surviving company, will change its name to â€œDSL.net, Inc.â€ at the time of the merger. MDS intends to then file a Form 15 with the Securities and Exchange Commission, seeking the deregistration of DSL.netâ€™s shares of common stock.
As a result of these actions, DSL.net will merge with and into MDS, and MDS will survive under the name â€œDSL.net, Inc.,â€ as a wholly-owned subsidiary of MegaPath, and there will no longer be a public trading market for the Companyâ€™s shares of common stock.
DSL.net, Inc. is a nationwide provider of broadband communications services to businesses. The Company combines its own facilities, nationwide network infrastructure and Internet Service Provider (ISP) capabilities to provide high-speed Internet access, private network solutions and value-added services directly to small- and medium-sized businesses or larger enterprises looking to connect multiple locations. DSL.net product offerings include T-1, DS-3 and business-class DSL services, virtual private networks (VPNs), frame relay, web hosting, DNS management, enhanced e-mail, online data backup and recovery services, firewalls and nationwide dial-up services, as well as integrated voice and data offerings in select markets.
MegaPath is a leading provider of managed IP communications services in North America. MegaPath leverages its wide selection of broadband connectivity, Virtual Private Networks, Voice over IP (VoIP) and security technologies to enable businesses to lower costs, increase security and enhance productivity. Businesses of all sizes can easily and securely communicate between their headquarters, branch offices, retail locations, mobile workers, and business partners.
For more information about DSL.net, please visit: www.dsl.net.
To learn more MegaPath, please visit: www.megapath.com.