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Strategies & Market Trends : STEAMROLLER'S DAYTRADES
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To: STEAMROLLER who wrote (816)9/10/1998 6:10:00 PM
From: STEAMROLLER   of 1561
 
Mindspring says to buy AOL's SpryNet

Reuters Story - September 10, 1998 16:44

ATLANTA, Sept 10 (Reuters) - Internet service provider MindSpring Enterprises Inc. said on Thursday it has agreed to purchase America Online's Sprynet
subscriber base and assets for $35 million to $40 million in cash.

MindSpring said the Sprynet subscriber base consists of about 180,000 individual Internet access customers in the United States and Canada. It also bought various
assets used in serving those customers, including customer support and network operations facilities in Seattle, Wa.

AOL acquired Sprynet in February 1998 when it took over CompuServe Interactive Services Inc.

MindSpring said it also acquired all rights held by AOL to the "Sprynet" name, as well as selected software and equipment.

Charles Brewer, MindSpring's founder and chief executive officer, said in a statement the acquisition "helps MindSpring continue on our quest to become a major
player in the telecommunications industry of the future."

MindSpring said it expected to pay America Online between $35 million and $45 million in cash in this transaction, with the final amount to be determined by the
number of subscribers who make the transition to MindSpring's service.

The company said it expected the transaction to be completed later this fall, subject to certain customary closing conditions
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