DSL.net Closes on Acquisition of TalkingNets; Company Moves to Expand Integrated Voice and Data Offering.Business Editors/High-Tech Writers NEW HAVEN New Haven, city (1990 pop. 130,474), New Haven co., S Conn., a port of entry where the Quinnipiac and other small rivers enter Long Island Sound; inc. 1784. Firearms and ammunition, clocks and watches, tools, rubber and paper products, and textiles are among the many , Conn.--(BUSINESS WIRE)--Sept. 9, 2003 DSL DSL in 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 .net, 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 : DSLN), a leading nationwide provider of broadband communications services to businesses, today announced that it has closed on its acquisition of substantially all of the assets and subscribers of mid-Atlantic-based TalkingNets, Inc., a voice and data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. provider that offered softswitch-based voice and high-speed data services to businesses. "This closing is another example of how DSL.net is executing on its growth plan and building shareholder value," said David F. Struwas, chairman and chief executive officer of DSL.net. "Our acquisition of the assets and subscriber lines of TalkingNets is an important strategic milestone for us because it gives DSL.net the capability to offer a superior integrated voice and data service to business customers in the business-intensive mid-Atlantic and Northeast regions. Prior to the closing, we incorporated the TalkingNets voice and data platform into our infrastructure and migrated its customers onto our enhanced network. We are now moving forward with deployment of bundled voice and data services in other key markets." As previously announced, DSL.net will use a portion of the $30 million in new financing raised this summer from Deutsche Bank Deutsche Bank AG (IPA: /'dɔɪ.tʃə/[1]) (ISIN: DE0005140008, NYSE: DB) (English: German Bank and VantagePoint Venture Partners to expand the roll out of its integrated voice and data communications services to the New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. region, Northern New Jersey, the Boston metro Boston Metro may refer to:
DSL.net and TalkingNets have been operating jointly since April, when DSL.net announced that it had reached an agreement to acquire substantially all of the assets and subscribers of TalkingNets. The TalkingNets closing, which occurred on Sept. 8, 2003, follows recent announcements of related agreements with Cisco Systems and BroadSoft, Inc. DSL.net is using best-of-breed Cisco Systems infrastructure, including routers and gateways, as well as BroadSoft's award-winning software as part of its converged voice and data network. "We are extremely excited about the chance to offer integrated voice and data to our existing subscriber base and to be well-positioned for attracting new business customers looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. bundled data, long-distance and local phone services," said Keith Markley, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of DSL.net. "In addition to our strong data communications experience, the DSL.net management team has extensive experience in voice services and we plan to fully leverage this competitive advantage. As an added plus, key TalkingNets' personnel, including its former President and 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. John Philips, have brought their expertise to the DSL.net team." About DSL.net DSL.net, Inc. is a leading nationwide provider of broadband communications services to businesses. The Company combines its own facilities, nationwide network infrastructure and 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. ) capabilities to provide high-speed Internet access, private network solutions and value-added services directly to small- and medium-sized businesses or larger enterprises looking to connect multiple locations. DSL.net product offerings include T-1 and business-class DSL services, virtual private networks (VPNs), frame relay, Web hosting, DNS (Domain Name System) A system for converting host names and domain names into IP addresses on the Internet or on local networks that use the TCP/IP protocol. For example, when a Web site address is given to the DNS either by typing a URL in a browser or behind the management, enhanced e-mail, online data backup and recovery services, firewalls and nationwide dial-up services; as well as integrated voice and data offerings in select markets. For more information, visit www.dsl.net, e-mail info@dsl.net or call 1-877-DSL-NET1 (1-877-375-6381). This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to a variety of risks and uncertainties, many of which are beyond DSL.net's control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. In particular, the risks and uncertainties include, among other things, (i) DSL.net's unproven business model, which may not be successful; (ii) DSL.net's ability to execute its business plan in a timely manner; (iii) risks associated with the market conditions in which DSL.net operates, including customer responsiveness to the Company's new converged voice and data offering; (iv) the possible removal of DSL.net's common stock from the Nasdaq SmallCap Market, which removal could adversely impact the pricing and trading of DSL.net's common stock; (v) regulatory, legislative and judicial developments, which could adversely affect the way DSL.net operates its business; (vi) risks associated with DSL.net's integration of those certain assets and subscriber lines acquired from TalkingNets, Inc.; and (vii) the risk that DSL.net's stockholders do not approve the matters required for the issuance of the remaining warrants to purchase shares of DSL.net's common stock in the Deutsche Bank-led financing, or that other conditions to the issuance of such warrants are not satisfied or waived by January 14, 2004, in which case DSL.net may be obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to then repay the $30 million raised in such financing. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. DSL.net undertakes no obligation, and disclaims any obligation, to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional information regarding these and other risks faced by DSL.net, see the disclosure contained under "Risk Factors'' in DSL.net's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2002, which has been filed with the Securities and Exchange Commission. DSL.net is a trademark of DSL.net, Inc. Other company names may be trademarks of their respective owners. |
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