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USi Merges With Interpath; Emerges From Bankruptcy

USinternetworking merged with competitor Interpath Wednesday and emerged from bankruptcy with an $81.25 million investment.

USinternetworking Interpath

The investment was made by an undisclosed affiliate of Bain Capital. Terms of the merger were not disclosed.

Bain became sole owner of USi in January, taking the company private and investing $106 million in it. Bain also owns a controlling interest in Interpath.

In addition to a mutual owner, the ASPs have similar service offerings. Both opted to build their own data centers, and both host ERP and CRM applications.

Andy Stern, CEO of USi, will become chairman and CEO of the combined company, based here.

"With the balance-sheet restructuring complete, a fully funded business plan in place and an operational merger with Interpath under way, USi will be able to grow the business and execute against the dramatic potential of the market we serve as the market leader," said Stern in a statement.

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