VRIO...Verio to Acquire Hiway Technologies, Creating Global Leader in Web Hosting. VRIO looks pretty good at 28 1/2 (market gems uses Hiway as their web host)
Business Wire - July 29, 1998 08:24
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ENGLEWOOD, Colo.--(BUSINESS WIRE)--July 29, 1998--
Acquisition gives Verio largest number of domain-based Web sites and powerful distribution
channels in the U.S. and over 100 countries
Verio Inc. (NASDAQ:VRIO), a leading full-service business Internet provider, today announced
that it will acquire Boca Raton, Florida-based Hiway Technologies, Inc., a leading Web hosting
company. The combination of the two Internet industry leaders creates the world's largest and
fastest-growing domain-based Web hosting company with more than 150,000 Web sites.
The combined companies create a powerful sales and marketing engine that is driven by preferential
marketing agreements with leading Internet portal companies, private label relationships with major
telecommunications companies and direct sales through over 150 sales professionals. With the
addition of over 2,000 resellers through Hiway's wholly-owned RapidSite, Inc. subsidiary, Verio will
market its Web services through over 4,000 resellers in the U.S. and in over 100 countries around
the world. Verio's expanded marketing capabilities will further increase the Company's reach within
the small and mid-size business market, which according to industry analyst firm Forrester Research
will continue its dramatic growth, quadrupling last year's revenues to nearly $1 billion in 1998, on its
way to over $10 billion in 2002.
Verio and Hiway together host more domain-based (.com, .net, .org) Web sites than any other
Internet company. Hiway's recent merger with Best Internet Communications in Mountain View,
California, established it as one of the world's leading providers of business Web hosting services,
bringing more than 90,000 Web sites to Verio's base of 60,000 Web sites. In addition, the
combination of the two companies brings together some of the strongest management teams in the
Web hosting industry, and strengthens Verio's comprehensive suite of Web hosting, electronic
commerce and other enhanced Internet service offerings. The combined companies will leverage
Verio's Tier One national network and scalable national systems for billing, accounting, customer
care and network operations. |
