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Short Take: RCN completes Erol's Internet acquisition

RCN Telecom Services has completed the acquisition of Erol's Internet, making it the Northeast's largest regional ISP, with nearly 300,000 subscribers in the Boston-Washington corridor. On January 21, RCN had announced plans to acquire Erol's for about $35 million in cash and $48.5 million in stock. RCN also has announced plans to acquire UltraNet, another Internet access provider, but that deal has yet to close. The combined deals amount to $110.5 million.

RCN Telecom Services has completed the acquisition of Erol's Internet, making it the Northeast's largest regional ISP, with nearly 300,000 subscribers in the Boston-Washington corridor. On January 21, RCN had announced plans to acquire Erol's for about $35 million in cash and $48.5 million in stock. RCN also has announced plans to acquire UltraNet, another Internet access provider, but that deal has yet to close. The combined deals amount to $110.5 million.