Verio Joins With Northpoint to Expand DSL Services
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The agreement, announced late Wednesday, includes a $4.4 million equity stake that raises Verio's total financial investment in NorthPoint to $10 million.
The co-branded DSL service will be bundled with Verio's suite of Web hosting and e-commerce services.
Verio/NorthPoint have offered DSL services in New York, Boston, Washington, D.C., Los Angeles and the San Francisco Bay Area since February, when the companies first agree to join forces. DSL service is also offered in San Diego and Cleveland.
"Verio's combination of high-speed connectivity and Web hosting is a strong entry point for businesses to leverage the power of the Internet and allows existing Internet users to transition to a more robust and cost-effective solution," said Verio President and Chief Operating Officer Herb Hribar.
Hribar added that "our customers are extremely pleased with NorthPoint DSL, and we look forward to expanding the service to businesses in top markets throughout the country."
Sean Brophy, Verio's vice president of corporate development, said the bundling of additional Web hosting and e-mail services gives the company a complete Internet business solution.
"Verio/NorthPoint DSL services are meeting a small and mid-sized businesses need in the market for a fast, always-on, affordable high-speed Internet access solution," he said.
NorthPoint currently provides services to 15 U.S. metropolitan areas. NorthPoint has obtained the required regulatory approvals to offer services in a total of 28 metropolitan areas.
Verio Inc. is one of the world's largest domain-based Web-hosting companies and national ISP. Since its inception in 1996, Verio has rapidly established a global presence through the acquisition of independent ISPs.