PSINet Gobbles Another Brazil ISP
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Rapidly expanding PSINet Inc. Thursday made its fourth acquisition in Brazil in as many months, purchasing Domain Acesso e Servicos Internet Ltd.
The company serves the Rio De Janeiro metropolitan area with more than 12,000 customers with dial-up and DSL connectivity. Terms of the agreement were not disclosed.
PSINet's expanding presence in Brazil is part of its quest to establish the mega ISP as a major player in each of the world's top 20 markets. Brazil currently ranks as ninth in the list and is considered one of the six major markets in Latin America. In April, PSINet met its goal by ranking in the top five of Brazilian ISPs.
The ISP estimates that Brazil has 2 million Internet users, and the number is expected to reach 3 million by the middle of this year. Currently, there are more than 500 ISPs serving its customer base.
"Internet usage in Brazil is poised for exponential growth. Recent studies show the number of Brazilians online is expected to double in 1999," said Philippe Kuperman, PSINet Latin America's president. "This represents a great opportunity for PSINet to build on our strong foundation in this important market."
PSINet now claims to have 600 POPs around the world, and expects to accelerate its acquisition trail after reporting better-than-expected earnings in July.