Some major deals have gone down in the US telecom world in the past couple of months. While not all of the deals are final yet, Verizon purchased MCI, SBC purchased AT&T and Sprint bought Nextel.

How the carriers' networks get integrated and which infrastructure vendor winds up as the primary standard can have a major impact on the telco business for companies like Cisco or Juniper. I haven't looked into whether there is a net winner or loser as far as core routing goes due to the acquisitions, but the pie slices have likely changed shape.

Other segments will feel the heat too - take service firms who specialized in the telco sector - the overall size of their pie just got significantly smaller.