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PSINet Takes Its Plan to Panama

After taking its buying spree through Europe, PSINet Monday returned to Latin America, purchasing Panamanian ISP Sinfonet.

The deal -- its 15th of the year -- gives PSINet presence in 19 countries. PSINet's goal is to rank as one of the top five ISPs in each of the world's 20 major markets.

Sinfonet has more than half of the market share in Panama. As with previous PSINet acquisitions, the new ISP in the fold will soon have access to all of PSINet's connectivity services.

Terms of the agreements were not disclosed.

PSINet also Monday created a business division to manage its interests in Mexico and Central America, and named Antonio Rihan as its first general manager. Rihan was the founder of Mexican ISP Datanet SA de CV, which was acquired last May by PSINet.

"PSINet plans to expand significantly throughout Central America and offer the full range of products and services available from PSINet. We will develop further the already strong base in Panama," Rihan said. "Our global network, combined with the technology and customer service of Sinfonet will serve this region well."



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