CSPSource.com Receives Strategic Investment from PSINet; Company Building Powerful New Business Model for Internet Entrepreneurs.NEW YORK--(BUSINESS WIRE)--Dec. 2, 1999-- CSPSource.com today announced the receipt of an equity investment from PSINet, Inc. (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 : PSIX PSIX Port State Information Exchange ), one of the world's largest and most experienced providers of IP-based communications services for business. CSPSource.com will use this capital to support a significant expansion of its distribution channel and its e-business offerings to its small and mid-sized service provider customers. Through this strategic partnership, CSPSource.com is strongly positioned to support the growth of its business both within the US and globally. CSPSource.com offers independent ISPs, web hosts and other merchant aggregators a technological migration path and cost-effective access to evolving services that reflect the needs of expanding Internet businesses. By providing its clients with the tools to streamline and automate To turn a set of manual steps into an operation that goes by itself. See automation. commerce application usage for their own merchant customers, CSPSource.com gives a competitive advantage to Internet entrepreneurs An Internet Entrepreneur is a person that engages in business on the internet and helps to shape the future of business on the internet by being an innovator. One who is able to recognize opportunity and administer resources to take advantage of the opportunities. at the service and the merchant levels. This advantage is supported over the long-term with sophisticated branding capabilities and ongoing marketing assistance including training, resources, support, collateral and community interaction. The end result is expanded value in the interaction between independent Internet service providers 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. and their local merchant subscribers, with more small businesses selling online through trusted and comprehensive local relationships. "This investment from PSINet brings CSPSource.com closer to its goal of increasing the value of the relationships between service providers and merchants," said Tom Mullin, 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 CSPSource.com. "PSINet's support brings added reliability and confidence to our role as the premiere provider of direction, choice, and value to our service provider customers." Ed Frankenberg, director, web products for PSINet, added, "CSPSource.com has strong management and a business model with significant potential. We are confident in the company and its vision and are pleased to be a strategic investor and CSPSource.com's preferred managed services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality provider." About CSPSource.com CSPSource.com empowers the Internet entrepreneur. Its service is designed to provide small and mid-sized ISPs, web hosts and other merchant aggregators with clear and cost effective access to expanded revenue streams for long term strategic viability. CSPSource.com officially launched its service on October 27, 1999. About PSINet Headquartered in Herndon, VA, PSINet is an Internet Super Carrier offering global E-commerce infrastructure and a full suite of retail and wholesale Internet services through wholly-owned PSINet subsidiaries. Services are provided on PSINet-owned and operated fiber, satellite, Web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. and switching facilities providing direct access in more than 800 metropolitan areas in 22 countries on five continents. PSINet information can be obtained by e-mail at info@psi PSI - Portable Scheme Interpreter .com, by accessing the Web site at www.psinet.com or by calling in the U.S.800-799-0676. PSINet is a registered trademark of PSINet Inc. in the U.S. and certain other countries. |
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