Two days, two acquisitions. Your thoughts on broadband vs. dial-up are right on the head. All of the ISPs need good DSL alliances.
biz.yahoo.com
Thursday July 8, 9:37 am Eastern Time
Company Press Release
BiznessOnline.com Agrees to Acquire WebWay LLC
Expanding Its Interactive Web Solutions for Businesses
WALL, NJ and ALBANY, NY--(BUSINESS WIRE)--July 8, 1999--
BiznessOnline.com, Inc. (NASDAQ NMS: BIZZ - news) today announced that it has reached an agreement in principle to acquire WebWay LLC, a privately held web application service provider, and custom web development company located in Albany, N.Y. WebWay is cash flow positive and has grown approximately 50% from 1998 to 1999. WebWay specializes in developing and delivering robust, interactive, data-driven web sites, Intranets and extranets for organizations focusing on communicating dynamic information to their target audiences. The terms of the transaction were not disclosed.
''WebWay, allows us to further establish our presence in the Albany and national web markets, offering enhanced on-line capabilities to our already established business customer base. Ultimately, our end-to-end solutions will provide a high level of service, while eliminating costly up-front information technology related expenses for our corporate customers. This acquisition solidifies our business objectives to leverage our collective operations to deliver comprehensive Internet services to regions in the Northeast and across the country'' said Mr. Mark Munro, CEO of BiznessOnline.com.
WebWay is experienced in developing online community tools such as forums, calendar planners, auction tools, cinema and dining guides, poll builders, content management tools and news publishing interfaces for regional media brands. Peter Nicolosi, President of WebWay commented, ''The acquisition provides WebWay with the opportunity to market our advanced services and technologies to all of BiznessOnline.com's corporate customer base, including the more than 2,000 web sites they currently host.''
One of WebWay's premier clients is TVData Technologies, Inc., the producer of ClickTV.com, a personalized Web-based television guide. WebWay manages the development and hosting of ClickTV.com along with its co-brands made up of major newspapers such as New York Daily News and national portals like Lycos, around the US and Canada. This month WebWay is releasing Version 4, code named ''Project Avalanche'', which is prepared to support 20 million page views a month enhancing ClickTV.com's scalability and status as a leading TV & Entertainment portal.
BiznessOnline.com provides DSL and other high speed Internet access technologies to businesses, residential Internet access, develops and hosts web sites, hosts co-located servers and offers related e-commerce services to subscribers in Connecticut and New York. The Company's corporate offices are located in Wall, N.J. and its data center is being built in Albany, N.Y. BiznessOnline.com can be found on the World Wide Web at www.biznessonline.com.
''Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995:
Certain of these statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including risks related to the Company's growth strategy, the ability to complete and integrate acquisitions, market demand for the company's services, and other factors affecting the Company's prospects as described in the Company's filings with the Securities and Exchange Commission, including the Company's prospectus in its Form SB-2 registration statement. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
L.G. Zangani, LLC provides financial public relations service to the Company, As such L.G. Zangani, LLC and/or its officers, agents and employees, receives remuneration for public relations and or other services in the form of moneys, capital stock in the Company, warrants or options to purchase capital in the Company. |
