(BSNS WIRE) NaviSite, Inc. Announces Filing of Registration Statement fo
NaviSite, Inc. Announces Filing of Registration Statement for Initial Public
Offering of Common Stock
Business/Technology Editors
ANDOVER, Mass.--(BUSINESS WIRE)--July 23, 1999--NaviSite, Inc., a
majority-owned subsidiary of CMGI, Inc., (Nasdaq:CMGI), today
announced the filing of a registration statement for the initial
public offering of its common stock. Managing underwriters for the
offering are BancBoston Robertson Stephens, Inc., ING Barings LLC and
FAC/Equities, a division of First Albany Corporation. The proposed
sale of NaviSite's common stock to the public is expected to occur in
late September 1999.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission but has not yet
become effective. These securities may not be sold nor may offers to
buy be accepted prior to the time the registration statement becomes
effective. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of
these securities in any State in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such State.
The net proceeds of the offering are expected to be used for
enhancement and expansion of network infrastructure; expansion of
sales and marketing efforts; enhancement of application management and
technical expertise; possible acquisitions of complementary businesses
and technologies; and working capital and general corporate purposes.
Copies of the prospectus may be obtained through BancBoston
Robertson Stephens, 555 California Street, San Francisco, CA 94109.
NaviSite, Inc., a majority-owned subsidiary of CMGI with minority
investments from Dell Computer Corporation and Microsoft Corporation,
is a leading provider of outsourced Web hosting and application
services for companies conducting mission-critical business on the
Internet. The company's goal is to help customers focus on their core
competencies by outsourcing the management and hosting of mission
critical Web sites and applications.
NaviSite's SiteHarbor(R) solutions provide secure, reliable,
co-location and high-performance hosting services, including
high-performance Internet access, and high-availability server
management solutions through load balancing, clustering, mirroring and
storage services. In addition, NaviSite's enhanced management
services, beyond basic co-location and hosting, are designed to meet
the expanding needs of businesses as their Web sites and Internet
applications become more complex and as their needs for outsourcing
all aspects of their online businesses intensify. The company's
application services, which include application hosting, management
and rental, provide cost-effective access to, as well as rapid
deployment and reliable operation of, business-critical applications.
For more information about NaviSite, on the East coast call
888.298.8222, on the West coast call 888.755.5525. NaviSite is
headquartered at 100 Brickstone Square, 5th Floor, Andover, MA 01810.
SiteHarbor is a registered trademark of NaviSite, Inc. All other
trademarks are the property of their respective owners.
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CONTACT: NaviSite, Inc.
Brenda Suarez, 978/684-3578
or
Mindstorm Communications
Marc Rolfe, 617/742-5520
mrolfe@mindstormcomm.com
KEYWORD: MASSACHUSETTS
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS
INTERACTIVE/MULTIMEDIA/INTERNET
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