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Paetec to Acquire McLeodUSA

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FAIRPORT, N.Y., Sept. 19, 2007 -- Paetec Holding Corp. announced this week it will acquire McLeodUSA Inc. of Cedar Rapids, Iowa, in an all-stock merger for a total of $557 million, including $492 million in stock and $65 million in debt assumption. "This transaction is squarely in line with our corporate strategy and positions Paetec as one of the largest nationwide competitive communications providers serving business customers," said Arunas A. Chesonis, chairman and CEO of Paetec. "We'll now have nearly 4000 employees, and we plan to increase our presence into 82 of the top 100 MSAs in 2008. With this combined...Read full article

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    Published: September 2007
    Glossary
    photonics
    The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
    BusinessCommunicationsfiber optic networkfiber opticsMcLeodUSAMSANews & FeaturesPaetec Holdingphotonics

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