RCN Closes Acquisition of Interport Communications
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The acquisition, announced in early June, was valued at $11 million in RCN Common stock or $23.46 per share. The company also paid out $871,000 in cash.
RCN said the Interport buy brings with it 10,000 dial-up accounts and 500 dedicated line and Web hosting clients.
The company claims to be the largest ISP in the Northeast U.S. region through its earlier purchases of UltraNet Communications, Inc. and Erol's Internet, Inc.
"Interport is a solid company that has been able to thrive in an extremely competitive market," said RCN Chairman and CEO David C. McCourt, in a statement. "It will make an excellent addition to RCN's growing Internet business."