NaviSite Suspends Secondary Offering Due to Market Conditions Headlines
Last Change
04/04 16:02
ANDOVER, Mass.--(BUSINESS WIRE)--April 4, 2000--NaviSite, Inc. (Nasdaq: NAVI), a leading application service provider (ASP) and Web hosting provider, today announced that it is suspending previously announced plans to pursue a secondary offering, due to market conditions.
NaviSite announced it will pursue financing both from strategic investors, including CMGI, and through commercial lines of credit.
About NaviSite
NaviSite, Inc. is a leading provider of outsourced Web hosting and application services for companies conducting mission-critical business on the Internet. The company's goal is to help customers focus on their core competencies by outsourcing the management and hosting of mission critical Web sites and applications. NaviSite is a majority-owned operating company of CMGI, Inc. with minority investment from Microsoft.
NaviSite's SiteHarbor© solutions provide secure, reliable, co-location and high-performance hosting services, including high-performance Internet access, and high-availability server management solutions through load balancing, clustering, mirroring and storage services. In addition, NaviSite's enhanced management services, beyond basic co-location and hosting, are designed to meet the expanding needs of businesses as their Web sites and Internet applications become more complex and as their needs for outsourcing all aspects of their online businesses intensify. The company's application services, which include application hosting, management and rental, provide cost-effective access to, as well as rapid deployment and reliable operation of, business-critical applications including managed services for streaming.
For more information about NaviSite, please visit www.navisite.com or by phone on the East coast call 888.298.8222, on the West coast call 888.755.5525. NaviSite is headquartered at 400 Minuteman Road, Andover, MA 01810.
About CMGI and CMGI @Ventures
With more than 65 companies, CMGI, Inc. (Nasdaq: CMGI) represents the largest, most diverse network of Internet businesses in the world, including both CMGI operating companies and synergistic investments made through its venture capital affiliate, CMGI @Ventures. CMGI leverages the technologies; content and market reach of its extended family of companies to foster rapid growth and industry leadership across its network and the larger Internet Economy. Compaq, Intel, Microsoft, Pacific Century CyberWorks and Sumitomo hold minority positions in CMGI.
CMGI's majority-owned operating companies include Engage Technologies (Nasdaq: ENGA), NaviSite (Nasdaq: NAVI), 1ClickBrands, 1stUp.com, Activate.net, AdForce, Adsmart, AltaVista, CMGI Solutions, Equilibrium, Flycast, iCAST, MyWay.com, NaviNet, SalesLink, Tribal Voice and yesmail.com. CMGI @Ventures has ownership interests in 49 Internet companies, including Lycos, Inc. (Nasdaq: LCOS), Critical Path (Nasdaq: CPTH), Silknet (Nasdaq: SILK), MotherNature.com (Nasdaq: MTHR), Ventro (Nasdaq: VNTR) and Vicinity (Nasdaq: VCNT).
CMGI's corporate headquarters is at 100 Brickstone Square, Andover, MA 01810, Tel: 978-684-3600. CMGI @Ventures has offices there as well as at 3000 Alpine Road, Menlo Park, CA 94028. For additional information and a complete listing of the CMGI and CMGI @Ventures companies, see cmgi.com and ventures.com.
SiteHarbor is a registered trademark of NaviSite, Inc. All other trademarks are the property of their respective owners. |
