Nov 11, 2002 : Digex to Explore Strategic Alternatives

📅 November 11, 2002 - Managed Web hosting provider Digex Incorporated (digex.com) announced on Monday that its Board of Directors has formed a special committee to explore strategic alternatives, including a possible sale of the company.

The committee of independent directors has retained Lane, Berry & Co. International as its investment bank.
"We believe the retention of a respected investment bank is in the best interests of the company and will be welcomed by all of our constituencies," says Digex president and CEO, George Kerns. "Digex is committed to delivering high-value managed hosting services to enterprises and has been since its inception. We hold a leadership position in this market and we believe it is important to maintain the resources and financial structure that will enable the company to grow in the long term. Lane Berry is well-suited to assist us in this endeavor."
John Dubel, chief financial officer of Digex's largest shareholder WorldCom said the company supports the Digex board in its decision.
Digex says it can not be certain that any action will come as a result of the effort.

Reads: 1595 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/dig111102.cfm
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