BiznessOnline.com Acquires CyberZone Internet and NECAnet.WALL, N.J.--(BUSINESS WIRE)--Dec. 16, 1999-- Company Announces Plans to Build Internet Data Center in Connecticut 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 : BIZZ) today announced it has acquired Cyberzone, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control of Hartford, CT, and completed the previously announced acquisition of NECAnet, Inc. of Storrs, CT. The addition of these two companies consolidates BiznessOnline.com's position in the Connecticut market, where the Company currently operates Connix Internet, and plans to build its second Internet Data Center (IDC). BiznessOnline.com is a leading provider of Web solutions, and broadband Internet access Broadband Internet access, often shortened to just "broadband", is high speed Internet access—typically contrasted with dial-up access over modem. Dial-up modems are generally only capable of a maximum bitrate of 56 kbit/s (kilobits per second) and require the full use of a for businesses in the Northeast's secondary markets. 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 commented, "The combination of CyberZone, NECAnet and Connix gives BiznessOnline.com the critical mass needed to consolidate our Connecticut operations into a new Internet See Web 2.0 and Internet2. Data Center which we plan to build in 2000. The IDC will offer Web hosting services to businesses and organizations implementing complex, interactive Web sites and Web-based applications. Major corporations to Internet start-ups will be able to leverage our services to rapidly and cost-effectively deploy secure and reliable Web-based solutions." Combined, CyberZone and NECAnet are forecast to generate approximately $3 million in 1999 revenue, and both are cash flow positive. Including these transactions and the previously announced planned acquisitions of Telecon and Telesupport, BiznessOnline.com's annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenue run rate will be approximately $26 million. CyberZone and NECAnet each offer broadband Internet access products including Frame Relay, T-1, and other high-speed services, server co-location, Web hosting for commercial accounts, and dial-up Internet access See dial-up. services. BiznessOnline.com is one of the Northeast's largest Web hosting companies and is a leading regional provider of high-speed Internet services for commercial and residential markets. BiznessOnline.com addresses the increasing Web and Internet needs of small and mid-sized businesses by offering high-performance co-location services, enhanced Web hosting and development services, and secure broadband Internet connections via BiznessOnline.com's fault-tolerant, fiber-optic backbone network, supported by 24x7 customer care and network monitoring. 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 Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " 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 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. |
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