Flashcom Picks Up Axcelerant
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Broadband service provider Flashcom Inc. Monday acquired network management firm Worldwide Axcelerant Group Inc. in a deal that will allow the high-speed ISP to deliver enhanced, secure business-to-business broadband services over the Web.
Axcelerant will operate as a wholly owned subsidiary of Flashcom. The purchase is an all-stock transaction, which Flashcom could not detail due to its "quiet period" from its May 10, S1 filing with the Securities and Exchange Commission.
Richard Rasmus, Flashcom president and chief executive officer, said the acquisition would open-up new markets to the broadband service provider.
"Flashcom's strength is mass marketing high-speed Internet access and digital broadband applications over copper telephone wires to residential and small-to-medium-sized business customers," Rasmus said. "Axcelerant brings to Flashcom the managed, scalable services and unparalleled command of security and applications software that companies demand when deploying broadband connectivity."
"We look forward to combining the expertise and experience of Flashcom and Axcelerant," Heintz said. "The combined company gains the ability to easily deliver broadband services - and e-commerce and teleworking solutions to enterprise customers of all sizes worldwide."
Axcelerant technology analyzes secure networks that companies use to share private Web-based communications. Headquartered in Irvine, Calif., Axcelerant boasts a list of top-notch partners including Cisco Systems, Inc.