Dec 12, 2002 : Interland to Acquire Trellix

📅 December 12, 2002 - Business-class Web hosting service provider Interland Inc. (Interland.com ) announced on Wednesday that it has begun the implementation of its mass-market growth strategy with the acquisition of Web site building software solution provider Trellix Corporation.

The deal, says Interland, includes $9.75 million in cash and stock plus warrants. Trellix shareholders will receive $4.75 million in cash, three million shares of Interland stock and a five-year option to purchase Interland shares at $5.00 per share, in exchange for all the outstanding shares of Trellix. The transaction is expected to close within the next 30 days.
Interland announced plans earlier in the year to develop a strategy for reaching the small business market. Yankee Group estimates indicate that there are more than 20 million small businesses and home offices in the US, most of which do not have a professional or effective Web presence.
"Through our mass-market strategy we are creating an opportunity to reach a much broader audience of small businesses,? says Joel J. Kocher, Interland CEO, ?and one that no one else is reaching effectively. Interland will be able to offer a unique blend of service and technology by combining its market leadership and revolutionary blueHALO hosting platform with Trellix's technology and significant distribution relationships."
Trellix provides a suite of applications and services designed to help businesses establish successful online presences. The company offers a suite of tools, including Web site publishing, online marketing, assisted site-building services and e-commerce. The technology includes hundreds of SME vertical templates and designs.
"The traditional Web hosting market is littered with technical offerings that bewilder everyday small businesses," said Don Bulens, CEO of Trellix. "As part of Interland, we will deliver the sensible, easy-to-manage solutions that these companies can use to succeed online."

Reads: 1937 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/int121202.cfm

Company: Interland

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