RealTime IT News

Verio Strengthens East Coast Presence

Internet provider Verio Inc. is expanding its presence on the East Coast with the purchase of new-york.net, one of New York's largest independent ISPs.

Terms of the purchase were not disclosed.

Thursday's deal marks Verio's third buy of a large independent provider in the New York area over the past year. Earlier this year, Verio acquired New York-based SpaceLab and Long Island's LI Net.

Justin Jaschke, Verio's chief executive officer, said the purchase will add depth to its growing East Coast presence. New-york.net primarily provides dedicated access and has more than 200 customers, including such heavyweights as the National Football League and Carnegie Hall.

"We're extremely pleased to welcome the new-york.net team and its blue-chip customers to Verio. Now their customers will have the best of both worlds -- a full-service Internet provider with a tier one network and the local, hands-on personalized service they've come to rely on," he said.

The company will soon start operating under the Verio name, but no time frame was given.

Earlier this week, Verio secured $400 million in financing to continue its acquisition strategy.