Rocky Mountain Internet Purchases Dave's World, an Illinois-based ISP; Company Gains Local Access to the Lucrative Illinois Market
BusinessWire, Wednesday, February 03, 1999 at 08:49
DENVER--(BUSINESS WIRE)--Feb. 3, 1999--Rocky Mountain Internet
Inc. (RMI) (Nasdaq SmallCap:RMII) (Nasdaq SmallCap:RMIIW) Wednesday
announced that it has acquired Illinois-based Dave's World, a
full-service Internet communications solutions provider, in a common
stock transaction valued at $3 million.
For fiscal year 1998, Dave's World experienced a revenue run rate
in excess of $1.9 million.
"Illinois was one of the top markets we targeted for entry as we
expand our national presence, and Dave's World holds a prominent and
respected position in that market," said Douglas H. Hanson, chairman
and CEO of RMI. "With this acquisition and the recent integration of
Unicom, out of Kansas City, RMI is quickly moving forward in building
market share within some of the best mid-western cities."
Dave's World, www.davesworld.net, provides Internet access, Web
hosting, dynamic Web design, e-commerce solutions and Web-based
newsgroups. The company brings RMI a host of value-added services such
as Web mail, video and audio conferencing, a broadcasting network and
a gaming server.
"Strategically, we looked at a lot of prospective partners,"
commented Dave Lalande, president of Dave's World. "What brought us to
RMI is the fact that they are poised to explode into the national
market with a similar vision we have encompassed.
"So now with this merger, Dave's World has direct access to RMI's
Tier 1 backbone, we have an e-commerce development company, and we can
add to our current product offerings with Web marketing, voice mail,
paging, calling cards, and so on."
With headquarters in Bloomington, Ill., Dave's World connects its
customers via 20 points-of-presence. The company is primarily consumer
based with approximately 7,500 customers. As a result of the merger,
RMI will obtain control of Dave's World operations and facilities and
will welcome the employees to join the team as RMI's Mid-Western
Division. Lalande will join Rocky Mountain Internet and head up their
Mid-Western Division as vice president.
About Rocky Mountain Internet
Denver-based Rocky Mountain Internet is a national communications
company focused on providing customers e-business solutions and
convergent communication technologies with an emphasis on service
quality. RMI's comprehensive e-business solutions include the
following: electronic commerce, custom portals and banner advertising
applications; Web site, intranet and VPN design and programming; and
Web hosting, marketing and consulting.
RMI's convergent communication technologies include the following
data and voice: high-speed dial-up, wireless, DSL and dedicated
Internet access; switched long-distance, calling card, 800 services,
voice mail and alphanumeric paging; and IP-Telephony. In addition to
the company's e-business solutions and convergent communication
technologies, RMI also maintains the award-winning portal site,
Infohiway.
For more information about Rocky Mountain Internet, call
800/864-4364, or visit the company's Web site at www.rmi.net.
This news release contains forward-looking statements. These
forward-looking statements are subject to risks and uncertainties.
Actual results may differ materially from such forward-looking
statements as a result of risks and uncertainties which are described
in the cautionary statements section of the company's 10K dated Dec.
31, 1997, and include the need for additional financing, the ICC
litigation, ability to successfully integrate acquisitions, changing
technology, competition, possible future government regulation,
competition for talented employees, the company's ability to fund
future operations and the company's need to refinance debt.
CONTACT: Rocky Mountain Internet, Denver
Shiloh Kelly, 303/672-0732
shiloh.kelly@corp.rmi.net
or
Dave's World, Bloomington
Dave Lalande, 800/275-3283
dlalande@davesworld.net
or
BSMG Worldwide
Margaret Huang, 310/966-5524
mhuang@bsmg.com
KEYWORD: ILLINOIS COLORADO
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED
INTERACTIVE/MULTIMEDIA/INTERNET MERGERS/ACQ
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Copyright 1999, Business Wire
Companies or Securities discussed in this article:
Symbol Name
NASDAQ:RMII Rocky Mountain Internet Inc
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