ONEM acquires another 12,000 subscribers:
biz.yahoo.com
Wednesday May 26, 8:36 am Eastern Time
Company Press Release
OneMain.com Acquires Feist Internet Services
National ISP Expands High Tech Investment in the Wichita Area To Meet
Local Internet Needs
VIENNA, Va. & KANSAS--(BUSINESS WIRE)--May 26, 1999-- OneMain.com(TM) (Nasdaq:ONEM - news) today announced its continued high tech expansion in the Wichita area with its acquisition of Feist Internet Services, a locally based Internet Service Provider. As of May 1, 1999, Feist had annualized revenues in excess of $3.4 million, more than 12,000 subscribers and was cash flow positive.
The terms of the transaction were not disclosed.
According to Stephen E. Smith, OneMain.com chairman, president and chief executive officer, Feist Internet Services is a high quality company that perfectly fits the profile of OneMain.
''Feist Internet Services is an excellent company that provides Internet services including dial-up and dedicated access, web hosting, and e-commerce solutions to local communities in and around the Wichita,'' said Mr. Smith. ''Feist Internet Services has experienced significant subscriber growth over the past year, is cash flow positive and has strong prospects for continued organic growth.''
Based in Vienna, Virginia, OneMain.com is one of the ten largest independent Internet service providers with more than 418,000 subscribers. OneMain.com provides Internet access and related services throughout the United States to individuals and businesses located predominantly in communities outside large metropolitan areas. These customers have traditionally been under-served by national on-line service providers and a great opportunity exists to meet their growing demand for on-line services in these markets.
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Contact:
Sloane & Company
Elliot Sloane or Rebecca Foster, 212/446-1860 / 1863 |
