BiznessOnline.Com Expands New England Presence.WALL, N.J.--(BUSINESS WIRE)--Sept. 28, 1999-- Eighth Acquisition In Nine Months For Regional Internet Service Provider In a move that will solidify the Company's base in Connecticut and increases its presence in the New England market, BiznessOnline.com (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NM: BIZZ) has signed a Letter of Intent to acquire NECAnet, a high speed Internet access provider See ISP. (networking, company) Internet Access Provider - (IAP) A company or other origanisation which provides access to the Internet to businesses and/or consumers. and web host based in Storrs, Connecticut. NECAnet is cash flow positive and its income is accretive to BiznessOnline.com's earnings. This year the company is forecast to generate $1.2 million in revenue , and its acquisition will add NECAnet's 4,200 customers in Connecticut, Maine, Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. and New Hampshire to BiznessOnline.com's client base. The terms of the transaction were not disclosed. The company specializes in providing Internet access via frame relay and other broadband services, hosts more than 600 web domains for commercial accounts, and serves an additional 3,600 dial-up 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. customers. NECAnet's widespread presence in New England will provide a strong base for BiznessOnline.com's continued growth in the region, and the acquisition will bring BiznessOnline.com's overall customer base to more than 30,000. "NECAnet's subscribers and location fit ideally with our strategy of providing tier-1 services in markets outside of metropolitan areas. Their customers are sophisticated consumers and businesses who are looking for faster access to the Internet and increased e-commerce services, and we are looking forward to augmenting NECAnet's product line." said Mark E. Munro, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BiznessOnline.com. Rick Robarge, owner of NECAnet commented, "BiznessOnline.com is a perfect partner for NECAnet. This transaction means that our customers will be offered increased bandwidth and redundancy without sacrificing any of the personal support and services that has made NECAnet standout among Internet service providers." BiznessOnline.com is a leading regional provider of Internet and Web Application services to small and medium-sized businesses and residential accounts in undeserved un·de·served adj. Not merited; unjustifiable or unfair. un de·serv , secondary markets in the Northeastern US. The Company offers bundled, tier-1 network broadband services via DSL DSLin full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary , Frame Relay, and T-1 and T-3, new web media and e-commerce development, web hosting, and dial-up services. BiznessOnline.com's corporate offices are located in Wall, N.J., and the Company can be found on the World Wide Web at www.biznessonline.com. "Safe Harbor" Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Certain of these statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including risks inherent to the Company's growth strategy, the ability to complete and integrate acquisitions, market demand for the Company's services and other factors affecting the Company's prospects as described in the Company's prospectus in its Form SB-2 registration statement. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. L.G. Zangani, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control provides financial public relations Financial public relations Public relations division of a company charged with cultivating positive investor relations and proper disclosure information. service to the Company, As such L.G. Zangani, LLC and/or its officers, agents and employees, receives remuneration for public relations and or other services in the form of moneys, capital stock in the Company, warrants or options to purchase capital in the Company. |
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