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BBN TO ACQUIRE SURAnet - NATION'S LARGEST REGIONAL INTERNET.

CAMBRIDGE, Mass.--(BUSINESS WIRE)--December 20, 1994 -- Bolt Beranek and Newman Inc. (NYSE: BBN) and the Southeastern Universities Research Association (SURA) today announced that they have signed a non-binding letter of intent under which BBN would acquire the SURAnet Internet service. When finalized, this acquisition would further expand BBN's growing Internet services business, which already includes NEARNETsm, the leading provider of Internet services in New England, and BARRNETsm, the leading provider of such services in the San Francisco Bay Area. Financial terms were not disclosed.

The acquisition of SURAnet would further enhance BBN's position as a leading provider of value-added Internet services. The NEARNET, BARRNET, and SURAnet operations comprise more than 1,000 business, government, academic, and medical institutions in 22 states and the District of Columbia.

"We are extremely pleased to have reached this agreement with SURA. SURAnet is the premier Internet service provider in the Southeast," said George H. Conrades, president and chief executive officer of BBN. "The Southeast is a vital and growing economy, and serving that market is an important step toward establishing BBN as a leading provider of Internet services to organizations nationwide."

"We chose BBN after a careful evaluation process," said Dennis Barnes, president of SURA. "In BBN, we saw an extremely good fit with both our customers and their requirements for future Internet service. We have long enjoyed a productive relationship with the NEARNET and BARRNET staff -- a relationship that has been characterized by tremendous mutual respect. As the Internet becomes an increasingly important part of the business environment in the Southeast, we know that BBN will deliver customer service of unrivaled breadth and quality."

Paul R. Gudonis, chief executive officer of BBN Internet Services Corporation, a subsidiary of BBN, said, "SURAnet is one of the nation's premier Internet service providers. With its strong presence in the District of Columbia, SURAnet is the provider of choice for many governmental agencies, and a market leader throughout the Southeast. Through aggressive growth and the development of new value-added services, BBN intends to play a vital role in the commercialization of the Internet."

Bolt Beranek and Newman Inc. (NYSE: BBN) is a leading provider of internetworked systems that help people work and learn together. The company is currently celebrating the 25th anniversary of its development of the ARPANET, which led to the modern Internet. BBN HARK Systems Corporation captures data through large-vocabulary speech recognition systems. BBN's Internet Services Corporation transports data through managed Internet access and value-added services. BBN Software Products Corporation provides applications which extract useful information from data in a client/server environment. BBN Systems and Technologies provides advanced systems and technology integration services. For its fiscal year ended June 30, 1994, BBN had revenue of $196 million.

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BARRNET and NEARNET are service marks of Bolt Beranek and Newman Inc.
 CONTACT: Jeffrey Mayersohn Brenda Nichols
 Bolt Beranek and Newman Parker, Nichols & Company
 (Financial Contact) (For BBN Internet Services)
 617/873-3596 508/369-2100
 jmayersohn(at)bbn.com parker-nichols(at)near.net
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Copyright 1994, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Dec 20, 1994
Words:497
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