December 1998...till present....Just for reference, I checked the web site, and re-found this....15 months later....
KLP
hsacorp.net
Vulcan Ventures Inc. Selects High Speed Access Corp.
For Significant Investment
High Speed Access Corp. Chosen by Vulcan Ventures and
Charter Communications To Provide High-Speed Data Services
To Several Communities Totaling More Than 750,000 Homes
Passed
DENVER, Colo. - High Speed Access Corp., the nation?s leading
turnkey provider of high-speed Internet access over cable
modems in Tier II markets, and Vulcan Ventures Inc, the
investment organization of Paul G. Allen, announced today that
Vulcan has made a $20 million investment commitment to High
Speed Access Corp. Vulcan?s investment secures a significant
equity stake in the company, which could materially increase.
Charter Communications, one of the nation?s leading cable
operators and manager of Vulcan's other major cable
investment, Marcus Cable, has concurrently selected High
Speed Access Corp. (HSA) to provide high-speed Internet
access services to communities passing nearly 800,000 homes,
with a potential commitment of an additional 5 million homes
passed based in part on Vulcan?s future investments in the cable
industry. HSA anticipates that it will have agreements to launch
service to systems passing in excess of 2 million homes by the
end of 1998. HSA will provide Charter and Marcus cable
subscribers with turnkey Internet access services; network
design, development and operations; a state-of-the-art Network
Operations Center (NOC) with a Customer Help Desk;
marketing, billing and technical management support.
?This investment represents an important component in Paul
Allen's Wired World strategy,? said William Savoy, president of
Vulcan Ventures. ?That strategy is based on a connected future
marked by the merger of high bandwidth data channels, the
power of the personal computer, television, and the availability of
compelling high-speed content. Our investments in the cable
industry reflect our belief that cable companies are uniquely
positioned to deliver the next generation of advanced data and
transactional services. High Speed Access Corp. is an
exceptional company. Its superior technical expertise and
breadth of experience, along with its outstanding management
team, set it apart from all other turnkey high-speed Internet
service providers.?
According to Charter CEO Jerald L. Kent, ?We looked carefully at
the universe of make-or-buy options for implementing PC-based
Internet-over-cable strategies for individual markets. In terms of
the solution offered to Charter and its subscribers, HSA clearly
made the most compelling case. HSA brings unique customer
marketing capabilities, extensive cable industry experience in
addition to specialized expertise in enterprise networking
services, technical support and customer service.?
?We couldn?t be more excited about this expansion of our
relationship. Charter?s management team runs one the tightest
and most respected ships in the cable business. Charter was
an early participant in data over cable implementation, and has
been a leader in the field of Internet cable services. This
investment reinforces our position as the turnkey high-speed
Internet access leader in tier II markets,? said Ron Pitcock,
President of HSA.
?Paul Allen and Charter deliberated extensively and thoroughly in
their review of all high-speed access turnkey providers. After
considering all alternatives and all industry players, they chose
the leader in serving Tier II markets,? echoed Kent Oyler, CEO of
HSA.
Charter Communications is headquartered in St. Louis, MO.
Upon completion of both acquisitions by Paul Allen, Charter will
be the seventh-largest cable operator in the U.S., and serves 2.4
million customers. Charter ranks near the top in all key
performance standards for the industry and has achieved
internal customer growth that is twice the industry average.
Vulcan Ventures Inc. of Bellevue, Washington was founded by
Paul G. Allen in 1986 to research and implement his
investments. Allen's investments through Vulcan are long-term,
as his resources and investment goals enable him to take
above-average risks and a long-term view. Through Vulcan
Ventures, Allen invests in companies which offer products,
services or technologies that fit his wired world strategy, and can
contribute to or benefit from the technology and strategy of other
Paul Allen companies.
The initial funding of High Speed Access Corp. was provided by
Broadband Solutions, LLC, Louisville, KY. Its co-investors
include lead investor Chrysalis Ventures of Louisville, KY, as well
as Windcrest Partners of New York, NY; J. David Grisson of
Louisville, KY (former Vice-Chairman of PNC Corp.); Bailey
Capital Corporation of Palm Beach, FL; River Cities Capital Fund
of Cincinnati, OH; and Saunders Capital Group LLC of Louisville,
KY. HSA?s chairman, David A. Jones, Jr., is Chairman of
Chrysalis and Vice-Chairman of Humana, Inc. (NYSE: HUM), and
its Vice-Chairman, Robert Saunders, is Senior Managing
Director of Chrysalis. Chrysalis has previously co-invested with
Grissom and Windcrest in Premier Parks, (NYSE: PKS) (now the
world's largest regional theme park company), Regal Cinemas,
and various other startup companies. Bailey Capital?s CEO,
Irving Bailey, retired in 1997 as chairman and CEO of Providian
Corp. (NYSE: PVN). Cable industry pioneer Joseph S. Gans, III is
also a co-founder of HSA.
HSA competes with several other cable-modem Internet service
companies, including @Home Corp. (NASDAQ: ATHM);
Roadrunner Corp., an affiliate of Time-Warner (NYSE: TWX); ISP
Channel (NASDAQ: SOF); and OnLine System Services, Inc.
(NASDAQ: WEBB). |
