H2O Networks Announces Investment Deal With PSINet Ventures Ltd.; PSINet Ventures Invests in Affinity ISP Developers.Business Editors NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of CITY--(BUSINESS WIRE)--May 15, 2000 H2O Networks today announced an investment from PSINet Ventures Ltd., the wholly owned corporate ventures unit of 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 ). H2O Networks is a leader in providing affinity-based customized, branded ISPs. PSINet will be one of H2O's preferred providers of Internet services. Under the agreement, PSINet Ventures will provide a combination of cash and internet services to H2O Networks, enabling the company to expand the range of products and services it will offer its clients. "Our partnership with PSINet will allow us to provide our clients with additional global hosting, web development and Internet access See how to access the Internet. solutions," said Dean Hollander, 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 H20 Networks. "PSINet's commitment helps affirm the value of our distinctive and customized approach to providing global affinity ISP See virtual ISP. solutions. H2O empowers large organizations and corporations to maximize the functionality of the Internet by creating online (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. ) services that offer content, products and services of more interest to the affinity group A special interest group. This is a marketing term for a group of people with similar interests. subscribers." H2O Networks creates a customized Web presence that allows an organization to reach its members more effectively and deliver useful and relevant content. The company develops a branded homepage that delivers information specific to the organization - news, upcoming events and special offers. The solution provides the end user with a comprehensive Internet browsing experience. "Our goal is to partner with innovative Internet entrepreneurs who share our vision of the Internet revolution and its future," says Barry Glauberman, Director of PSINet Ventures Ltd. "We believe that H2O Networks will have a major impact on the way organizations interact with their constituencies." H2O Networks aids in maximizing an organization's or corporation's outreach potential by delivering a very unique Internet experience to large memberships through affinity Internet access services and customized home portals. Subscribers have an added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
Affinity groups who offer ISP services can strengthen relationships with existing members and attract new members more effectively than with more traditional methods, such as periodic mailings. Utilizing the power of the Internet for specific member benefits gives these organizations and corporations a new, more effective marketing tool. An H2O-developed browser includes all standard applications found on the Internet, such as chat rooms, email accounts, customized news and customized homepages. About H2O Networks H2O Networks (www.h2onetworks.net) is a leader in providing affinity-based customized, branded ISPs. These ISPs will allow for a greater depth of involvement between affinity organizations, corporations and their members. The company was founded in October 1999 and is headquartered in New York. About PSINet Ventures Ltd./PSINet, Inc. PSINet Ventures Ltd. is the wholly owned corporate ventures unit of PSINet Inc. (Nasdaq: PSIX). The ventures unit has established relationships with companies that have defined new markets such as Internet broadcasting Internet Broadcasting (formerly Internet Broadcasting Systems), or IBS, is a provider of television station web sites. IBS hosts over 70 local stations' sites, and co-produced NBCOlympics. , application services See ASP and Web services. provision, content services, eCommerce and Internet infrastructure. These emerging opportunities have enhanced PSINet's financial standing and competitive technology and service positions, while accelerating the development of new technology. Headquartered in Ashburn, VA, PSINet, Inc. is an Internet Super Carrier offering global eCommerce 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 and switching facilities providing direct access in more than 800 metropolitan areas in 28 countries on five continents. PSINet information can be obtained by e-mail at info@psi.com, by accessing the Web site at www.psinet.com or by calling in the U.S., 800/799-0676 |
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