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Technology Stocks : Verio (VRIO)

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To: lazarre who wrote (554)	7/14/1999 4:28:00 PM
From: Ellen	Read Replies (1) of 676

telecomweb.com [This is a daily link. Info changes each day with the new issue.] Verio Goes Shopping As expected, Verio's [VRIO] $250 million in private financing was quickly followed by an acquisition (CT, 7/13). The Internet service provider bought digitalNation, a Web hosting firm, for $100 million in cash. That's more than 10 times digitalNation's annual revenues, but such premiums are all too common for Web hosting firms. digitalNation's projected annual revenues are $9.4 million. Verio's private financing deal will leave it with enough cash for a second purchase. That last line stood out. To me anyway.

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