Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Safeguard Scientifics SFE -- Ignore unavailable to you. Want to Upgrade?

To: michael r potter who wrote (3173)	7/1/1999 12:03:00 PM
From: still learning	Respond to of 4467

Another SFE purchase: Interesting they called themself an IT co, and not an internet and IT company for the first time in a while. Thursday July 1, 8:42 am Eastern Time Company Press Release SOURCE: Safeguard Scientifics, Inc. Safeguard Scientifics Acquires Interest in Vitts Networks Adds to Family of Network Infrastructure Partnership Companies WAYNE, Pa., July 1 /PRNewswire/ -- Safeguard Scientifics, Inc. (NYSE: SFE - news), an information technology (IT) holding company that develops and operates IT companies, announces that it has acquired a 40% interest in Vitts Networks. Vitts is a facilities-based Data-Competitive Local Exchange Carrier (Data-LEC) service that provides Internet access through its FastReach(TM) Digital Subscriber Line (DSL) service as well as high-speed wide area data networks and in-building network outsourcing services. Vitts Networks, headquartered in Manchester, NH, is deploying its advanced technology Protected Service Network which currently serves 20,000 customers throughout the northeastern United States. This network utilizes Asynchronous Transfer Mode (ATM) technology, a networking innovation that integrates LAN/WAN data, voice and video communications into a common network backbone to provide low-cost bandwidth and fast, reliable, and affordable data services. Along with its integration services, application services, and a 24x7 network operation center, Vitts also provides managed Internet services through FastReach, which uses the latest DSL Internet access technology. Jerry Johnson, executive vice president of Safeguard, stated, ''Vitts Networks is at the forefront of Internet access technology, seamless connectivity, and high-speed bandwidth. The company has also organized a strong management team to develop and rapidly grow the business geographically.'' ''Safeguard's growing stable of network infrastructure partnership companies provide Vitts with a network of resources and support. We are excited about the value Safeguard will bring over and above the financial resources they have provided,'' said Chris Oliver, founder, chairman, and CEO of Vitts Networks. About Safeguard Safeguard is an information technology (IT) holding company that identifies, acquires, operates, and manages IT companies and has interests in private equity funds that together form a community of shared resources. Safeguard's focus is on IT companies with particular emphasis on companies engaged in eCommerce, network infrastructure activities, and enterprise applications. Safeguard believes that these sectors will provide compelling opportunities for success driven by the rapid growth of the Internet as a fundamental business tool. A long-term partner, Safeguard works closely with its partnership companies and actively assists them with their management, operations, and finances to build value in preparation for initial public offerings and beyond. Safeguard also assists in managing and working with seven venture capital funds. SOURCE: Safeguard Scientifics, Inc.