To: Mark Fowler who wrote (82762 ) 11/2/1999 12:19:00 PM From: H James Morris Respond to of 164684
Mark, Xla has been riding on Akam's coat tails. << Woburn, Massachusetts, Nov. 1 (Bloomberg) -- Xcelera.com Inc., whose Mirror Image Internet Inc. unit speeds up delivery of Web content, announced plans to expand Mirror's network to 28 international locations, sending its shares up 38 percent. Xcelera.com rose 22 3/4 to 82 1/2 in trading of more than 500,000 shares, five times their three-month daily average. Earlier, they touched a 52-week high of 83 15/16. The shares traded as low as 98 cents on Nov. 6. Xcelera.com's announcement follows the initial stock sale of rival Akamai Technologies Inc., whose shares rose today to 174 5/16 after an initial public offering last week at 26. Mirror, Akamai and other companies that speed Internet traffic anticipate that, as people log onto the Internet at faster speeds, they'll demand quicker delivery of Web content. ``The potential of these businesses and the traffic problems they are able to solve is very significant,' said Alex Vik, chief executive and president of Xcelera.com. Woburn, Massachusetts-based Mirror will expand its network of content-access points, from which it can deliver 75 percent of a customer's Internet traffic at higher speeds, into 28 cities on five continents. The network already is in place in St. Louis, Washington, London and Frankfurt. With thousands of Internet sites vying for the same consumers, top Web sites such as Yahoo, an Akamai customer, want be sure their services outperform competitors' and they're willing to pay for the extra speed. Xcelera.com, which changed its name from Scandinavia Co. last week, said it bought Mirror in April. The company also owns a hotel in Spain's Canary Islands and several undeveloped parcels of land there. Nov/01/1999 16:25 >>