PSINet Continues Global Expansion in Latin America
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The purchase follows PSINet's acquisitions of three Brazilian and two Mexican ISPs earlier this year. The new deal furthers the company's plans to play a significant role in providing Internet access to the top twenty telecommunication markets globally.
Argentina On-Line serves both businesses and consumers with dedicated and dial-up connectivity as well as Web hosting and e-commerce capabilities. The company provides local dial-up services from points-of-presence in more than 60 cities throughout the country.
Argentina On-Line currently provides Internet services to a number of multinational corporations and more than 20 embassies and government agencies nationwide.
"Internet usage in Argentina is poised for rapid growth. Recent studies show the number of Spanish-speaking people online worldwide is expected to double in 1999, from 14 million users to 34 million by the end of the year. This is an opportune time for us to lay a strong foundation in this important market."
Current economic opportunities abound in Argentina as the country continues to deregulate utilities and privatize railway systems.
Kuperman said the cost of telephone service in Argentina is expected to decline later this year and that demand for Internet services would naturally expand as a result of reduced fees.
"With upcoming state telephone deregulation expected in November, Internet usage will likely grow exponentially as related costs decline. We intend to bring our full suite of Internet products and services to the Argentine market."
PSINet operates an international ATM-based network consisting of over 535 worldwide points-of presence. The company currently offers services in Argentina, Belgium, Brazil, Canada, France, Germany, Hong Kong, Italy, Japan, Luxembourg, Mexico, the Netherlands, Republic of Korea, Switzerland, the United States, and the United Kingdom.