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Technology Stocks : PSIX up 26.5%, Takeover(?) -- Ignore unavailable to you. Want to Upgrade?

To: washcapsfan who wrote (4934)	8/31/2000 7:20:46 PM
From: lupaka	Respond to of 5650

washcapsfan - ntt bought verio to discourage other buyers This came out in May/2000: "Discouraging Rivals NTT Communications decided to take full control of Verio to discourage any rival suitors from doing so, said NTT Communications President Masanobu Suzuki. Both companies said there was at least one rival suitor for Verio, though they declined to provide details. "The purchase of Verio will help us achieve our goal to become a global (Internet protocol) services provider," said Suzuki. "This is the first step for us to become a full player in Asia, Europe and the U.S." NTT Communications said it won't change Verio's management and plans to keep the company's 2,000 employees and Verio brand name. Verio Chief Executive Justin Jaschke said the agreement between the two companies is in the "best interest" of shareholders. Verio Verio provides the resources to keep other companies' Internet sites working through its nationwide U.S. network of 190 Internet access points, linked by fiber-optic lines leased from Qwest Communications International Inc. and others. The company targets businesses with as many as 1,000 employees. Its customers pay about $30 to $100 a month for Verio's services, said Deutsche Banc Alex Brown analyst Michael Bowen, who rates Verio a "strong buy." PSINet Inc., based in Herndon, Virginia, is Verio's main competitor, said Bowen. Exodus Communications Inc., based in Santa Clara, California, also hosts other companies' Web sites but focuses on larger companies and offers more complex services, said Bowen. Exodus customers pay about $19,000 a month, he said. Verio would like to expand into more expensive services and compete with Exodus, said Levy. "With NTT Communications as its parent, Verio will now have the cash to pursue its expansion." Verio was founded by CEO Jaschke, a former executive at Nextel and Norwest Venture Capital. His plan was to form a nationwide Internet services company by acquiring local Internet service providers. Verio has acquired more than 48 ISPs since its first, RAINet Inc., in April 1996." investorpackages.com When you asked "strong what?" Instead of investing in their own hosting centers ntt was putting their money in the Strong mutual funds LOL