Intermedia is a hosted Exchange company that ventured into hosted VoIP. That venture landed them an LOI (letter of intent to buy) from a private equity firm. On the heels of that, Intermedia decided to grab Zlago to bolster the cloud channel push that Oak Hill Capital Partners wants. Combined they reach about 7000 MSP's and VAR's, according to this report.

WSJ is reporting that Ericsson is buying Telecordia for $1.15B. The private-equity firms - Providence Equity Partners and Warburg Pincus - that own Telecordia bought it 2004 from SAIC for $1.35B. I guess it's like the housing market.

And bankers are also getting rich off of all of the telco debt that is being restructured, refinanced and privately placed. At least Wall Street is still making money.

BTW, Counterpath just closed on $5.6M in brokered private placement. The money will likely be used to launch some of the surprises that Counterpath has in the hopper, according to my source.