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.
“Quest Net is looking ahead into the future of the Internet, and
preparing for the day when Service Providers are also going to be
Information Providers. Insider is an excellent choice, given their
established expertise in producing trade shows and publishing. The fact
that they are already using the Internet heavily is an added bonus!”
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