Codero Hosting Acquired By Broadband Consortium

Austin-based Codero, a provider of Internet hosting services, said this morning that it has been acquired by a consortium of 32 regional telecom companies. Financial terms of the acquisition were not announced. Codero said the BLM Acquisition Corp. consortium acquired all of the company's outstanding equity from current owner Catalyst Investors and others. Codero said the deal also includes a "significant" investment aimed at helping the company grow its products and services. Codero explained that Emil Sayegh, the company's current president and CEO, will remain in that position and become Chairman of the company's board.