PSIX...Jenna's pick for the Internet Play: Internet services provider PSINet Inc. (Nasdaq:PSIX - news) won $4 13/16 to $40 after announcing plans to expand the availability of its InterSky Internet access service into 50 new markets in the U.S. and abroad in 1999.
This Intersky Internet access frees user from attaching to the phone jack or the cable modem.... WSJ, 02/02/98, reported that PSIX tested product successfully in Fort Myers and Naples, Fla since April.
Here is the news:
PSINet To Launch Low-Cost Wireless Internet Service in 50 New Markets
Source: Business Wire
HERNDON, VA. (Feb. 2) BUSINESS WIRE -Feb. 2, 1999--
PSINet InterSky Provides Businesses with Fast and Affordable Wireless Alternative to Local Loop Internet Access
PSINet Inc. (NASDAQ: PSIX), the first and largest independent commercial Internet Service Provider (ISP), today announced plans to expand availability of PSINet(R) InterSky - a business-grade wireless Internet access service. Building on successful deployment in test markets in the United States, PSINet InterSky will be available in selected metropolitan areas in the U.S. and overseas by the end of 1999 utilizing PSINet inside sales experts as well as channel and private-label partners. In the U.S., initial rollout has been completed or planned for Ft. Myers and Naples, FL; Memphis, Nashville and Knoxville, TN; Mobile and Birmingham, AL; Louisville, KY; Charlotte and Raleigh-Durham, NC; as well as Tysons Corner, VA by the end of the second quarter in 1999. Service will be operational in the remaining markets by the end of the year 2000.
PSINet InterSky offers an affordable, high-speed alternative to traditional land-based last-mile Internet services, commonly referred to as "local loop connections," offered by telecommunication carriers. PSINet InterSky pricing starts at $395 per month and is ideal for small and medium-sized businesses in secondary metropolitan markets. Customers in these areas typically have individual on-line service accounts operating at speeds of 28.8 Kbps or local area network (LAN) ISDN services operating up to 128 kilobits per second (Kbps).
PSINet InterSky, which offers a dedicated high-speed wireless Internet solution utilizing Airdata WIMAN digital microwave technology in the unlicensed 2.4 gigahertz (GHz) spread spectrum band, was originally developed for military communications. Speeds are currently available up to 128 Kbps with faster capabilities expected up to 512 Kbps in 1999 and up to 2 megabits per second (Mbps) in 2000 - the latter being fifteen times faster than currently available ISDN services. PSINet InterSky customers will receive comprehensive quality of service (QoS) agreements. In addition, capabilities that provide advanced security, privacy, and other PSINet applications such as Internet voice are also being certified in PSINet's laboratories.
PSINet InterSky is a unique service in that the technology is a "point to multipoint" system capable of delivering wireless Internet services to thousands of businesses in each service area. Furthermore, PSINet InterSky is not just a modem, but a wireless connection for an entire office LAN. Connections are delivered using a cellular-type infrastructure similar to wireless voice networks. PSINet InterSky services are then linked directly into PSINet's international Internet backbone providing customers with the same network engineering, monitoring services, and service level agreements (SLAs) offered to other PSINet connectivity customers.
"PSINet's commercial customers demand the highest quality and reliability from their Internet services," said Richard Frizalone, vice president of wireless Internet services for PSINet Inc. "The need for alternative local loop capacity is well documented and InterSky provides a unique business-grade solution particularly for metropolitan areas that are not considered first-tier markets." These locales have typically been overlooked because of the costs associated with delivering land-based local loop Internet services.
Based on primary research gathered using various sources including Dunn & Bradstreet Marketplace and U.S. Census Bureau statistics, the potential market for PSINet InterSky includes nearly 200,000 businesses - just in the U.S. PSINet InterSky customers are expected be able to obtain business-grade Internet access in days rather than months. "The focused geographic coverage of the service allows PSINet to enter into new markets in untapped regions utilizing internal or channel sales forces that bring us closer to the customer," said Harold S. (Pete) Wills, president and chief operating officer for PSINet Inc. "PSINet InterSky continues PSINet's strong growth with technology that is fast, affordably priced, easy to install and manage, and able to be integrated with a wide array of general Internet and PSINet-developed business applications," Wills added.
Headquartered in Herndon, VA, PSINet is a global facilities-based Internet data communications carrier focused on the business marketplace. PSINet offers a broad set of high-speed corporate LAN/WAN connectivity services supporting managed security and guaranteed Internet, intranet, electronic commerce, Web hosting services, and services for other carriers and ISPs. PSINet operates an international state-of-the-art frame relay and ATM-based, IP-optimized network consisting of more than 500 points of presence (POPs) around the world serving primary markets in Belgium, Canada, France, Germany, Hong Kong, Italy, Japan, the Netherlands, Republic of Korea, Switzerland, the United States, and the United Kingdom. PSINet information can be obtained by e-mail at info@psi.com, by accessing the Web site at psinet.com or by calling toll free 1-800-799-0675.
Certain of the statements made in this release are forward-looking statements that are subject to material risks and uncertainties. Actual results could differ materially, as a result of a variety of factors, including competitive developments, risks associated with the Company's growth, the development of the Internet market, regulatory risks and other risks which are discussed in the Company's fillings with the Securities and Exchange Commission.
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CONTACT: PSINet, Herndon Media Contact:
Michael P. Binko 703/904-4285 |