Global Internet service provider PSINet Inc. today announced the
acquisition of Tokyo Internet Corp., a regional ISP serving businesses, the
small-office/home-office (SOHO) market, and individual users in Japan.
PSINet estimated that the acquisition will add over US$35 million in
annualized revenue as well as
nearly 6,000 leased line, colocate, Web hosting and dialup subscribers.
Terms of the agreement were not disclosed.
The company is continuing its shopaholic trend, as today’s acquisition
marks the latest in a string of recent Asian acquisitions. In August, the
firm acquired Japanese ISP Rimnet, and it also owns companies in Hong Kong
and Korea. Other holdings include those in Africa, Belgium, Canada, France,
Germany, Italy, Japan, the Netherlands, Switzerland, the United States, and
the United Kingdom.
In related news, PSINet also announced that it completed its acquisition of
Korean ISP Inet, Inc. The acquisition is expected to add over U.S. $11
million in annualized revenue, the firm said.
“Despite recent economic challenges, the pace of Internet growth in the
Asia/Pacific region continues to surpass that of other regions,” said
William L. Schrader, chairman and CEO of PSINet Inc.
“Similar to North America and Europe, Internet usage in this region is
evolving through several stages of
maturity. Business utilization of the Internet continues to grow rapidly in
the region and the sophistication of Internet use for business and
individual productivity often exceeds that of
other areas of the world,” he added.
