Critical Path to Buy FaxNet
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Terms of the deal were not disclosed.
Critical Path (CPTH) , a leading provider of business-to-business Internet messaging solutions for corporations and ISPs, expects the acquisition to broaden its spectrum of messaging solutions.
"FaxNet is joining Critical Path at the forefront of the rapidly developing Internet messaging revolution," said Keith Cooper president and chief executive officer of FaxNet.
To shoulder the growing demands of its broad customer base, Critical Path is developing a full spectrum of Internet messaging solutions to complement its core e-mail systems. FaxNet should prove to be highly valuable for the company because it released host of e-commerce solutions, dubbed "Fax Ramp."
Fax Ramp's features include:
- FaxMission Enterprise Onramp, a service that allows large-scale businesses to send faxes via FaxNet's onramp with no investment in hardware or software
- FaxMission E-mail-to-Fax, a service that enables end-users to send fax documents from any e-mail address
- FaxMission Web Fax, designed to allow service providers, portals, and Internet content providers with the ability to implement Web-hosted fax services, Web Fax sends documents via a designated Web page
According to International Data Corp., the Internet fax market was approximately $50 million in 1998 and is expected to grow to $2 billion by 2002. Moreover, analysts estimate the unified messaging market will grow to $2.3 billion in 2002.