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VRIO
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Wednesday March 31, 4:45 pm Eastern Time
Company Press Release
SOURCE: Verio Inc.
Verio and NorthPoint Communications to Launch High-Speed Internet Access Services in 13 Additional U.S. Markets
New Pact Increases Verio's Financial Investment in NorthPoint by $4.4 Million as Companies' Co-Branded DSL Presence Expands to 21 Markets
ENGLEWOOD, Colo., March 31 /PRNewswire/ -- Verio Inc. (Nasdaq: VRIO - news), the world's largest domain-based Web-hosting company and a leading provider of comprehensive business Internet services, today announced it is expanding its relationship with NorthPoint Communications, a data competitive local exchange carrier (CLEC), by launching the companies' co-branded, high-speed digital subscriber line (DSL) services to businesses in 13 additional U.S. markets. The agreement includes a $4.4 million equity stake that raises Verio's total financial investment in NorthPoint to $10.0 million.
Verio's and NorthPoint's co-branded DSL services will now reach 21 cities and will be bundled with Verio's comprehensive suite of Web hosting and e-commerce offerings designed specifically for small and mid-sized businesses. Verio is currently offering DSL services with NorthPoint in 10 cities, including San Diego and Cleveland where it launched service today. The company will offer DSL services by the end of May in Detroit, Austin and Miami, with additional rollouts this year in Philadelphia, Pittsburgh, Tampa, St. Louis, Seattle, Portland and Denver.
''Verio's combination of high-speed connectivity and Web hosting is a strong entry point for businesses to leverage the power of the Internet and allows existing Internet users to transition to a more robust and cost- effective solution,'' said Verio President and Chief Operating Officer Herb Hribar. ''Our customers are extremely pleased with NorthPoint DSL, and we look forward to expanding the service to businesses in top markets throughout the country.''
DSL is ideally suited for small and mid-sized businesses and telecommuters because it provides fast, ''always on'' and affordable high-speed Internet access using existing telephone lines. Capable of transmitting voice and data at speeds ranging from 144 Kbps to 1.5 Mbps, Verio's DSL solutions are up to 50 times faster than regular dial-up Internet access, enabling organizations to increase the productivity of their online business activities. And unlike dial-up access, the DSL always-on technology provides a constant connection to the Internet 24 hours a day and allows businesses to use the telephone, fax and Internet simultaneously.
About NorthPoint Communications
NorthPoint is a national, facilities-based provider of high speed, local data network services. NorthPoint's networks use digital subscriber line, or DSL, technology to transport data at guaranteed speeds up to 25 times faster than common dial-up modems. NorthPoint markets its network and data transport services to Internet service providers, broadband data service providers, and long-distance and local telephone companies. The company is currently providing services in 15 metropolitan areas in the United States and intends to offer service in a total of 28 metropolitan areas by the end of this year. The company has obtained required regulatory approvals to offer services in each of those markets.
About Verio Inc.
Verio Inc. is the world's largest domain-based Web-hosting company and a leading provider of comprehensive business Internet services, with an emphasis on serving the small and mid-sized business market. Since its inception in 1996, Verio has rapidly established a global presence through the acquisition, integration and growth of independent Internet providers with a business customer focus. Verio supports its operations with highly reliable and scalable national infrastructure and systems including a facilities-based Tier One national network. Verio delivers locally-based sales and engineering support in 41 of the top 50 U.S. markets under the Verio brand name and provides Web-hosting services to customers in more than 170 countries.
For more information on Verio, visit the company's Web site at www.verio.com. The corporate headquarters are located in Englewood, Colorado at 8005 S. Chester St., Suite 200, 80112, phone number 303.645.1900.
Except for the historical information contained herein, certain matters set forth in this press release are forward-looking statements within the meaning of the ''safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties, including but not limited to fluctuations in operating results, additional capital requirements, competition, integration of acquisitions and implementation of network infrastructure. Readers are also encouraged to refer to Verio's reports from time to time filed with the Securities and Exchange Commission, including the Company's Current Annual Report on Form 10-K filed on March 31, 1999, for a further discussion of Verio's business and risk factors that may affect operating and financial results and the financial information provided herein with respect to recent acquisitions.
SOURCE: Verio Inc.
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