DSL.net Inc., an Internet and Web hosting company, plans to acquire the network assets and subscriber lines of Network Access Solutions Corp. for $17 million.
The network stretches from Massachusetts to Virginia and includes approximately 13,000 business subscriber lines, according to DSL.net.
The U.S. Bankruptcy Court of Delaware must approve the agreement, which consists of $7 million in cash and up to $10 million in liabilities. Herndon, Va.-based Network Access Solutions filed for bankruptcy court protection in June. Under federal bankruptcy law companies may acquire Network Access Solutions’ assets through a higher bid.
DSL.net, based in New Haven, Conn., expects the agreement to close this year pending bankruptcy court approval and other closing requirements.
