November 30, 1999 07:50
OneMain.com Acquires Teleport - a Leading Local ISP in the Pacific
Northwest; Company's Subscriber Base Now Exceeds 600,000
RESTON, Va.--(BUSINESS WIRE)--Nov. 30, 1999--OneMain.com(TM) (Nasdaq: ONEM), "your
hometown Internet," today announced the acquisition of Teleport, Inc., a leading provider of Internet
access and other related services based in the Pacific Northwest. As of November 1, 1999, Teleport had
approximately 40,000 subscribers.
With today's announcement, OneMain.com now serves more than 600,000 customers resulting from a
combination of strategic acquisitions and continued strong internal subscriber growth. Providing service
in 29 states, OneMain.com continues to expand its presence and solidify its position as a leading
provider of local Internet access to smaller markets and rural communities across the western region and
around the country.
"The selection of Teleport is consistent with OneMain.com's core business strategy to target the
dominant local ISPs in their respective markets," said Stephen E. Smith, OneMain.com Chairman and
CEO. "Teleport has a proven track record of superior customer service, and we are excited to welcome
the Company's customers and employees to OneMain.com. Teleport will anchor OneMain.com's
expansion into this rapidly growing region of the country and serve as a platform to launch highly
localized content and services to small towns in the Pacific Northwest."
Central to OneMain.com's business strategy are its "geographic communities" -- or first up customer
homepages. Unlike the large virtual communities offered by traditional ISPs, OneMain.com is building
online communities based on where its customers live. As a powerful source of local content, these
geographic communities will drive customer loyalty to the OneMain.com brand and enable its customers
to enjoy a unique online experience that will positively impact their daily lives. Content will include such
important information as local news, weather, Little League scores, hunting and fishing reports,
community events and school activities.
Smith added, "Our `geographic communities' enable OneMain.com to better serve our customers living in
smaller metropolitan markets underserved by other national ISPs. They are integral to OneMain.com's
strategy of growing additional revenues through non-access related products and services, including
e-commerce, by leveraging our subscribers' strong demand for superior customer service and
highly-localized content."
Based in Reston, Virginia, OneMain.com is one of the ten largest independent Internet service providers
with more than 600,000 subscribers. OneMain.com provides Internet access and related services
throughout the United States to individuals and businesses located predominantly in communities
outside large metropolitan areas. These customers have traditionally been under-served by national
on-line service providers and a great opportunity exists to meet their growing demand for on-line services
in these markets.
This press release contains forward-looking statements related to OneMain.com's opportunities and
future growth. Any or all of our forward-looking statements in this press release or in any other public
statements we make may turn out to be wrong. They can be affected by inaccurate assumptions we
might make or by known or unknown risks and uncertainties, including risks related to the Company's
consolidation strategy, its ability to complete and integrate acquisitions, and other factors affecting the
Company's prospects.
CONTACT: OneMain.com, Reston
Daniel Greenfield
703-375-3016
or
Sloane & Company
Dan O'Connor
212-446-1865 |
