PSINet Acquires Another Canadian ISP
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PSINet Ltd., a wholly owned subsidiary of global Internet Service Provider PSINet Inc., today announced plans to further expand its Canadian presence with the acquisition of Interlog Internet Services Inc.
Under terms of the deal, PSINet reportedly will add 50,000 subscribers in southern Ontario to its service, increasing its reach to 100,000 individual subscribers throughout Canada. The financial details of the acquisition, which is expected to close in early August, were not disclosed.
"We are pleased to be adding Interlog to our recent string of worldwide acquisitions," said William L. Schrader, PSINet Inc. chairman, CEO and president. "Interlog is a quality company that will further complement our Canadian operations . . . Interlog is profitable and will add over CDN$10 million in annualized revenues to our Canadian business."
Today's announcement is another in a series of alliances with Canadian companies. Last week, PSINet joined forces with telecommunications firm Ericsson Communications Inc. to develop Internet Protocol (IP) platforms, and in November, 1997 the company acquired Canadian ISP iStar.
Separately, PSINet also announced this week the initial roll out of PSIVoice, a voice-over-IP suite of corporate voice products. The package includes iPEnterprise, iPEnterprise Plus, and iPGlobal solutions, all designed to address a range of business customer needs.