BROOKS FIBER PROPERTIES INCREASES INVESTMENT IN VERIO INC.ST. LOUIS, Mo.--(BUSINESS WIRE)--June 27, 1997--Brooks Fiber Properties, Inc. (Nasdaq/NM:BFPT BFPT barrier-free proton transfer BFPT Brooks Fiber Properties, Inc. (stock symbol) BFPT boiler feed pump turbine BFPT Brouwer Fixed Point Theorem BFPT Bundesdeutsche Fachtagung für Plasmatechnologie BFPT Braque Francais de Petite Taille ), a nationwide provider of competitive local telecommunications services, today announced the Company has increased its investment in Verio Inc, an Englewood, Colorado Englewood is a city in Arapahoe County, Colorado, USA. As of 2005, the city is estimated to have a total population of 32,350.[5] It is part of the Denver-Aurora Metropolitan Area. based national Internet service provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. ) that targets small and mid-size business and institutional customers, through the purchase of 50,000 Units consisting of $50,000,000 aggregate principal amount of 13-1/2% Senior Notes due June 24, 2004 and warrants to acquire an additional 704,160 shares of Verio's common stock. Brooks Fiber owns approximately 23% of Verio Inc. Verio is a national network of ISPs committed to delivering superior Internet connectivity, Web services (1) Loosely, any online service delivered over the Web. Such usage appears in articles from non-technical sources, but not in IT-oriented publications, because definition #2 below describes the correct use of the term. and customer care to enterprises doing business online. Verio's strategy is to acquire an equity interest in established independent ISPs and increase their efficiency by offering centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. back office and support functions, therefore combining the strength of a national company with the customer focus and responsiveness of a local provider. In markets where both Brooks Fiber and Verio operate, Brooks Fiber provides Verio's ISPs with telecommunications services that are superior in quality and more cost efficient than those generally available from the local incumbent provider. Commenting on the transaction, James C. Allen James Cameron Allen (January 29, 1822 - January 30, 1912) was a U.S. Representative from Illinois. Born in Shelby County, Kentucky, Allen attended the public schools. He moved to Indiana in 1830. He studied law. , Brooks Fiber Properties' chief executive officer, commented, "We are very pleased to have the opportunity to enhance our relationship with Verio. This strategic alliance allows us to further leverage our capability to offer customer-oriented Internet and Intranet communications solutions and make our service package more appealing to business customers. In addition, this investment represents a significant opportunity for Brooks Fiber to acquire expertise in an important growth industry, and allow us to remain focused on our core business." Brooks Fiber Properties, Inc., headquartered in St. Louis, Missouri, is a leading full service provider of competitive local telecommunications services in cities across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . With networks operational or under construction in 44 U.S. cities, the company provides its customers with advanced and reliable high- capacity voice, video, data and other enhanced telecommunications services. You can now receive fax copies of recent Brooks Fiber news releases 24 hours a day by calling 1-888-329-2304 and or visit Brooks Fiber on the Internet at www.Brooks.net CONTACT: Brooks Fiber Properties, St. Louis Waymon R. Tipton, 800/799-8914, ext. 313 |
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