RealTime IT News

PSINet Goes on Global ISP Buying Spree

Just after completing its 23rd international acquisition this year, PSINet Inc. Monday acquired four ISPs in Spain, Brazil and Hong Kong.

PSINet (PSIX) bought out Infase, Spain's eleventh largest ISP with points of presence in Barcelona and Madrid and Ciberia, a full-service design and access company.

Harry G. Hobbs, PSINet Europe president, said the Spanish acquisitions would assure the company's leading role in the burgeoning European market.

"PSINet is committed to solidifying its position in the Spanish market. We have acquired four Internet companies there in the last two months," Hobbs said. "We are very pleased to welcome Infase and Ciberia into PSINet, as both offer complementary services which will bring us tremendous opportunities for growth in Spain."

The company's acquisition of ServNet in Salvador, Brazil marks PSINet's first entry into northern territory of the South American country. The deal also marks PSINet's fifth acquisition in Brazil over the last five months.

Philippe Kuperman, PSINet Latin America president, said with this acquisition, PSINet ranks as third largest ISP in Brazil, another fast-growing ISP global market.

"We are continuing to grow rapidly in this important market in Latin America," Kuperman said. "The purchase of ServNet will help us expand our network and services in northeastern Brazil, one of the fastest growing regions in the country."

In a separate move, PSINet also acquired the Vision Network of Hong Kong. Vision Network is the nineteenth largest telecommunications market in the world.

Vision Network offers a mix of home and business services with corporate customers constituting 60 percent of the company's sales.

Terms of the agreements were not disclosed.

PSINet currently operates an international frame relay and ATM-based, IP network consisting of more than 600 POPs around the world. The global communications company provides services in Argentina, Austria, Belgium, Brazil, Canada, Chile, France, Germany, Hong Kong, Hungary, Italy, Japan, Luxembourg, Mexico, the Netherlands, Panama, Republic of Korea, Spain, Switzerland, the United Kingdom and the United States.