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RealTime IT News

Network Solutions Takes $10 Million Stake in Interliant

Application service provider Interliant, Inc. Thursday received a $10 million investment from Network Solutions, Inc. and also entered a multi-year cross-promotion alliance with the domain name registrar.

The funds add to a $17.5 million investment from Dell Computer Corp. (DELL) and BMC Software Inc. (BMCS) announced earlier this week.

The alliance between Interliant (INIT) and NSI (NSOL) adds to a previous agreement the two had forged. Interliant will continue to offer its customers Network Solutions' registration services in the .com, .net and .org top-level domains and other Web identity services, while Network Solutions will promote Interliant's services on its Web site, on its dot com directory and in a variety of other promotional campaigns. It will also continue to refer customers to Interliant as an Alliance Program member.

"We are very excited to confirm our commitment to our Alliance Partner, Interliant, with this investment," said Bob Korzeniewski, Network Solutions' chief financial officer. "Since we announced the strategic alliance in August of last year, Interliant has grown at an amazing rate and is a leading referrer for our domain name registration services. Their extensive offering of Web and application hosting services complements the identity services that we provide to our customers."

"With this renewed commitment from Network Solutions, Interliant's customers can rest assured that they will continue to have full access to the leading Internet registration services " said Brad Feld, co-chairman of Interliant.