>Is not XLA that scam stock?
The momentum players and the daytraders thinks it's the next MicroSoft.
With these projected revenues how come XLA only has a $3bil market cap??
>
Frankfurt, Jan. 20 (Bloomberg) -- Mirror Image, the data transmission unit of Xcelera.com Inc., said it plans to sell shares in an initial public offering in the second half of 2000 or earlier as it expands in Europe.
The company hasn't decided yet on the stock exchange for its initial offering, Chief Executive Cosmo Santullo, who joined the company three weeks ago, said in an interview. ``We get calls from investment banks all the time,' he said.
Before the initial offering, Hewlett-Packard Co., the world's No. 2 computer maker, invested $32 million in Mirror Image to help finance expansion of its three business lines in Germany, U.K., Spain and the Netherlands. Xcelera.com has also sprayed fresh money into the company, Santullo said.
Mirror Image may not want to wait too long before selling stock. Companies such as Bertelsmann AG and the combined Time Warner Inc. and America Online Inc. are also looking to exploit ways of speeding up data transmission online.
``We're accelerating everything we're doing in Europe not to miss the first-mover advantage,' Santullo said. The company plans to triple its staff in Europe before the end of the year and is ``looking for a couple of large partners,' he added.
Mirror Image said it expects to generate revenue of about $10 million in 2000, more than 10 times as much as in 1999. That's to ``more than double' in 2001, Santullo said.
Although Germany is lagging behind the U.S. in using the Internet, Mirror Image already has agreements with German Internet providers such as Freenet.de AG, Mobilcom AG's online unit, Cybernet Internet AG and Gigabell AG, it said.
Mirror Image is based in Woburn, Massachusetts.
Jan/20/2000 1:38 |
