To: jtech who wrote (12243 ) 7/29/1998 11:08:00 AM From: Jenna Read Replies (2) | Respond to of 120523
VRIO...Verio to Acquire Hiway Technologies, Creating Global Leader in Web Hosting. VRIO looks pretty good at 28 1/2 (market gems uses Hiway as their web host) Business Wire - July 29, 1998 08:24 Jump to first matched term ENGLEWOOD, Colo.--(BUSINESS WIRE)--July 29, 1998-- Acquisition gives Verio largest number of domain-based Web sites and powerful distribution channels in the U.S. and over 100 countries Verio Inc. (NASDAQ:VRIO), a leading full-service business Internet provider, today announced that it will acquire Boca Raton, Florida-based Hiway Technologies, Inc., a leading Web hosting company. The combination of the two Internet industry leaders creates the world's largest and fastest-growing domain-based Web hosting company with more than 150,000 Web sites. The combined companies create a powerful sales and marketing engine that is driven by preferential marketing agreements with leading Internet portal companies, private label relationships with major telecommunications companies and direct sales through over 150 sales professionals. With the addition of over 2,000 resellers through Hiway's wholly-owned RapidSite, Inc. subsidiary, Verio will market its Web services through over 4,000 resellers in the U.S. and in over 100 countries around the world. Verio's expanded marketing capabilities will further increase the Company's reach within the small and mid-size business market, which according to industry analyst firm Forrester Research will continue its dramatic growth, quadrupling last year's revenues to nearly $1 billion in 1998, on its way to over $10 billion in 2002. Verio and Hiway together host more domain-based (.com, .net, .org) Web sites than any other Internet company. Hiway's recent merger with Best Internet Communications in Mountain View, California, established it as one of the world's leading providers of business Web hosting services, bringing more than 90,000 Web sites to Verio's base of 60,000 Web sites. In addition, the combination of the two companies brings together some of the strongest management teams in the Web hosting industry, and strengthens Verio's comprehensive suite of Web hosting, electronic commerce and other enhanced Internet service offerings. The combined companies will leverage Verio's Tier One national network and scalable national systems for billing, accounting, customer care and network operations.