Thursday September 23, 12:19 pm Eastern Time
Company Press Release
Log On America to Acquire Massachusetts Based ISP of High-Speed Internet Access to Residential and Commercial Clients
Company's Fourth Acquisition in as Many Months
PROVIDENCE, R.I.--Sept. 23, 1999--Log On America, Inc. (Nasdaq NNM: LOAX - news), a provider of high-speed Digital Subscriber Line (DSL) services and voice technology in the Northeast Corridor, today announced it has executed a definitive purchase agreement to acquire Twisted-Pair Networks, Inc., a Massachusetts based Internet Service Provider (ISP). Terms of the acquisition were not disclosed. Log On America expects the acquisition to be accretive to 1999 earnings.
Twisted-Pair caters to both residential and commercial clients offering dial-up access and high-speed dedicated lines, as well as, server co-location and advanced www solutions to Rhode Island, Massachusetts and New Hampshire.
''We are very excited about the acquisition of Twisted-Pair. In addition to bringing Log On America to over 30,000 customers, over 115 employees and $10,000,000 in annual run rate revenue, this acquisition expands our penetration in the Massachusetts market,'' said David R. Paolo, Chairman and CEO of Log On America.
''Log On America continues to execute their strategy with great success. They continue to build their credibility and add value to our relationship with each acquisition they are able to announce,'' commented, David Roberts, Vice President, Nortel Networks.
About Log On America
Log On America, Inc. is a Northeast Regional Competitive Local Exchange Carrier (CLEC) and Information/Internet Service Provider (IISP), providing local dial-tone, instate toll, long distance, high-speed Internet access and cable programming solutions over traditional copper wire using DSL technology to residential and commercial clients throughout the Northeast.
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