Apr, 2001 : Worldport Communications Acquires hostmark
📅 - Internet infrastructure provider Worldport Communications Inc. (wrdp.com) announced on Thursday that it had acquired hostmark, a provider of Web hosting and professional services. With the purchase, Worldport will gain hostmark's recently completed Internet data centers in the UK, Sweden and Germany, comprising a total of 153,000 square feet.
Worldport says that the acquisition of hostmark has accelerated Worldport's plan to establish between three and five Internet solution centers in key European Cities during 2001.
Under the terms of the deal, Worldport will issue up to 5.1 million shares of common stock to hostmark, with 4.1 million shares to be exchanged at the closing, and the remaining one 1 million shares issued at the first anniversary of the closing. The stock transaction allows Worldport to preserve its cash, giving the company the means to fund its strategic plans, which lead into early 2003.
Worldport says it now has operations in the key countries representing 70 percent of the Web hosting revenue for Western Europe. The company says it is ideally positioned to take advantage of the emerging market.
According to Worldport, in 2000 the company made significant investments in the development of its SuperCenter in Dublin, Ireland. The software and solutions center will be combined with the newly acquired data centers to create a standardized, scalable solution across all of Worldport's European operations.
Worldport says it now has some of the most extensive Web hosting capabilities available for global companies operating from Europe. The company says the newly acquired Swedish operations will allow its Swedish subsidiary, VIS-Able, which was acquired and rebranded as Worldport Professional Services in September 2000, to deliver a full portfolio of Internet services from Web design to fully managed services.
Worldport says that the acquisition of hostmark has accelerated Worldport's plan to establish between three and five Internet solution centers in key European Cities during 2001.
Under the terms of the deal, Worldport will issue up to 5.1 million shares of common stock to hostmark, with 4.1 million shares to be exchanged at the closing, and the remaining one 1 million shares issued at the first anniversary of the closing. The stock transaction allows Worldport to preserve its cash, giving the company the means to fund its strategic plans, which lead into early 2003.
Worldport says it now has operations in the key countries representing 70 percent of the Web hosting revenue for Western Europe. The company says it is ideally positioned to take advantage of the emerging market.
According to Worldport, in 2000 the company made significant investments in the development of its SuperCenter in Dublin, Ireland. The software and solutions center will be combined with the newly acquired data centers to create a standardized, scalable solution across all of Worldport's European operations.
Worldport says it now has some of the most extensive Web hosting capabilities available for global companies operating from Europe. The company says the newly acquired Swedish operations will allow its Swedish subsidiary, VIS-Able, which was acquired and rebranded as Worldport Professional Services in September 2000, to deliver a full portfolio of Internet services from Web design to fully managed services.
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URL source: http://www.thewhir.com/marketwatch/worldport274.cfm
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