Jan, 2002 : Interland Withdraws Pursuit of E.spire Hosting Business

📅 January 8, 2002 - Interland, Inc. (interland.net), a Web hosting serviceprovider, today announced it has decided not to further pursue anacquisition of e.spire Communications' (espire.com) Web hostingsubsidiaries, FloridaNet, Inc. and CyberGate, Inc.

"As we've committed to our shareholders, Interland will only acquirebusiness when it meets our strategic objectives and accelerates our path toprofitability. While we did believe the accounts could be a good strategicfit for Interland, at the current bid price, along with the associatedliabilities, we do not feel the acquisition would provide an acceptable rateof return for our shareholders," said Interland CFO David Buckel. "We willcontinue to look for the right opportunities to leverage our strong cashposition to gain scale in a consolidating market."