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RMI.NET Buys B2B Development Firm

Adding to its slew of recent acquisitions, RMI.NET, Inc. Tuesday purchased business-to-business Web site developer AIS Network Corp. for $3.65 million in stock.

AIS Network, a privately held commerce solutions provider, offers dedicated Internet access; Web site development and hosting; e-commerce services; application hosting and Internet marketing and consulting. RMI.NET (RMII), formerly Rocky Mountain Internet, will integrate the firm into its business, with Dan Lundahl, president for AIS Network, taking over RMI.NET's manager for the Greater Chicago market.

"AIS Network fits perfectly with our core business and strengthens our position in the Greater Chicago area and throughout Illinois," said Douglas H. Hanson, chairman and chief executive officer for RMI.NET.

"One of the additional benefits to AIS is that it is profitable and will immediately contribute to our goal to be cash flow positive by the fourth quarter of next year."

Tuesday's acquisition marks the 16th company acquired in 1999, RMI said. Other acquisitions include Nova Media Group, CyberDesic Communications, Inc., Dave's World, Internet Connect, IdealDial, Colorado Mountain Net and CommerceGate. All are part of the company's strategy to expand nationwide.