NorthPoint Communications Group Inc.
NPNTQ
Other OTC0.00
USD
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NorthPoint Communications Group Inc.
NPNTQ
(Other OTC)
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price
0.00
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yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- NorthPoint Communications Group Inc. NorthPoint Communications Group Inc. (NPNTQ) operates as a competitive local exchange carrier focused on high-speed data transmission via digital subscriber line (DSL) technology; its core services include wholesale network access, broadband data transport, and local data network solutions enabling Internet service providers, long-distance and local telephone companies, and data service providers to deliver high-speed connectivity to end-users. The company markets these offerings primarily in the United States, targeting the 100 largest metropolitan areas through partnerships with entities such as Microsoft, Intel, Verio, Cable & Wireless, and others; it maintains relationships with investors including The Carlyle Group, Accel Partners, Benchmark, and Greylock Partners. Founded in 1997 and headquartered in San Francisco, California, NorthPoint built a national DSL footprint during the dot-com era but ceased active operations following its 2001 bankruptcy, with substantially all assets acquired by AT&T Corporation for $135 million in a liquidation sale. Recent major developments include the failed 2000 merger attempt with Verizon Communications Inc., which was terminated after a revenue restatement, leading to workforce reductions of 19% (248 jobs) and eventual Chapter 11 filing in January 2001; a subsequent out-of-court settlement with Verizon in July 2002 resulted in a $175 million payment to NorthPoint. Currently, the entity engages in no active business activity, with contact addressed to FTI Consulting Inc. at 633 W. Fifth Street in Los Angeles.