Quest Net and International Insider to Merge
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Quest Net Corp. and International Insider Reports Inc. today jointly announced they have signed an agreement under which Quest Net will acquire International Insider.
Financial details were not disclosed.
Fort Lauderdale, Fla.-based Quest Net is a large regional Internet Service Provider, with Dial-up POP's (point-of-presence) in 228 cities and more than 2,000 clients. International Insider is a publishing and information service for worldwide telecommunications service providers, and hosts specialized conferences. It also publishes telecom news at Insider Telecom Daily.
"The logic behind a merger between a publishing company and an Internet Service Provider (ISP) may not be obvious, until you look at the need for ISP's to become more involved in content, instead of technical hardware and software support only," said Camilo Pereira, chairman and CEO of Quest Net.
The companies said Insider will be run as a separate operating division of Quest Net, and current Insider President, Gene Retske, will retain his title in the new division. In addition, the company also plans to immediately develop joint programs and content for users.
"We will be seeking to define a new paradigm in the use of the Internet," said Gene Retske, president of International Insider. "Quest Net and Insider are both relatively new companies, without the baggage of a lot of corporate culture, and corporate inertia, to overcome."
Earlier today Quest Net cancelled its intended merger with World Pass, an Internet provider.