History
Covad offered DSL, Voice over IP, T1, Web hosting, managed security, IP and dial-up, and bundled voice and data services directly through Covad's network and through Internet Service Providers, value-added resellers, telecommunications carriers and affinity groups to small and medium-sized businesses and home users. Covad broadband services were available in 44 US states, including 235 Metropolitan Statistical Areas (MSAs), a services area available to over 50 percent of all US homes and businesses. Corporate headquarters was located at 110 Rio Robles San Jose, CA 95134.
By 2008, Covad added the Samsung Acemap DSLAM to their portfolio on top of their pre-existing Nokia D50 technology to allow for ADSL2+ technology, which can reach DSL speeds up to 15 Mbit/s (contingent on distance between the service address and the central office).
In mid 2010, Covad announced Ethernet over Copper services (EoCu) in the LA market. The new Ethernet product runs over a flashwave based ethernet core and provides symmetrical speeds up to 20 Mbit/s. In early 2011, Covad (now Megapath) announced expansion of the services on a national level by the end of 2012.
Covad was acquired by private equity firm, Platinum Equity in April 2008. In 2010, they were sold to U.S. Venture Partners, who rebranded their combined ISP holdings (MegaPath, Covad, and Speakeasy) under the name MegaPath,.
The three-way merger produced an executive team comprising the former CEOs of all three former companies: Chairman and CEO (former MegaPath CEO) D. Craig Young, Chief Strategy Officer and Head of Wholesale Markets (former Covad CEO) Pat Bennett, and (former Speakeasy CEO) Bruce Chatterley as President of the Business Markets unit in charge of all non-wholesale customer sales, service and marketing.
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