PSINet Continues Global Expansion
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PSINet Inc. announced Tuesday it has acquired 50,000 new subscribers in Puerto Rico and the greater Boston region.
The Internet provider Tuesday announced the acquisition of privately-held Caribbean Internet services. Based in San Juan, Puerto Rico, the deal will make PSINet Puerto Rico's second-largest ISP. The deal is PSINet's first acquisition in the Caribbean region.
Caribbean Internet serves approximately 14,000 businesses and consumers with dedicated and dial-up connectivity as well as Web hosting services.
Caribbean Internet serves approximately 30 percent of Internet users in Puerto Rico. According to PSINet, approximately 494,000 of homes in Puerto Rico currently have personal computers, although not all of the PCs have Internet access.
"PSINet's global network, combined with the technology and customer service expertise of Caribbean Internet will serve this market well," said Carlo Marazzi, president of Caribbean Internet. "We intend to grow significantly throughout Puerto Rico."
PSINet also announced the acquisition of The Internet Access Company, a regional ISP serving the Northeast. According to the company, TIAC is one of the ten largest providers of direct Internet service to both organizations and individuals in the U.S.
TIAC serves approximately 33,000 businesses and consumers with dedicated and dial-up connectivity and web hosting services. The privately-held access provider maintains 50 points-of-presence throughout Massachusetts, New Hampshire, Connecticut, Rhode Island, New York and New Jersey.
"The acquisition of TIAC builds upon PSINet's existing customer and revenue base while further strengthening U.S. regional and national market share," Kraft said.
"While the majority of our recent acquisitions have occurred outside the U.S., additional domestic purchases are planned consistent with our ongoing strategy to achieve and reinforce premier positioning in the world's top 20 markets."
Terms of both acquisitions were not disclosed.