RealTime IT News

RMI.NET Takes Stake in

Denver-based Internet service provider RMI.NET, Inc. today acquired nearly a 20 percent stake in, a vertical market ASP.

The ASP develops private label virtual desktops for businesses, associations and Internet companies.

Philip Seifert, chairman and chief executive officer, said he was glad to see the RMI.NET (RMII) investment.

"By working together, we will be able to create multiple revenue channels from's ASP model," Seifert said.

"RMI.NET's investment substantiates our business model as we aggressively move forward to becoming the future leader in the ASP market place,'' he continued.

RMI.NET and also announced the two firms intend to develop for the "Generation Y" online demographic group. By targeting high school and college students, the two companies plan to create an interactive site that builds upon twenty-something content, community and e-commerce.

As part of the agreement, will work exclusively with RMI.NET for the operation and maintenance of the site. is a wholly owned subsidiary of

Douglas Hanson, RMI.NET chairman and chief executive officer, said RMI.NET has been aggressively expanding its e-commerce services over the past year.

"This is an exciting project for RMI.NET because it allows us to provide our web design, hosting and marketing expertise to help create new, state-of-the-art, innovative web sites for the next generation of Internet consumers,'' Hanson said.

"We believe that is the perfect partner for the ASP marketplace because of its innovative and forward-thinking approach to the Internet,'' Hanson added.