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PSINet Acquires Swiss ISP

PSINet Wednesday acquired The Internet Company (TIC), the second largest Internet service provider in the Swiss business-to-business sector.

"Switzerland, as the fourteenth largest telecommunications market in the world, is an important part of our global expansion plans. This acquisition, further enhancing our Swiss presence, allows us to offer our global network and services to the entire country," said Harold Wills, president and CEO of PSINet.

The acquisition of TIC will add six points of presence (POPs) to PSINet's global network, bring the total to more than 535 POPs worldwide, added Wills.

Privately-held TIC, based in Kriens, Switzerland, provides businesses with dedicated and dial-up connectivity, as well as Web hosting. The company also offers Digital Subscriber Line (DSL) services, which PSINet will now extend to the rest of the country.

Terms of the acquisition were not disclosed.