Rocky Mountain Internet
Inc. (RMI) announced today it that entered into a letter of intent to
purchase Stonehenge Internet Communications
Corp. in a stock transaction valued at $450,000.
As a result of the acquisition, Denver-based RMI will obtain control of
Stonehenge’s
network operations, facilities and customers. In addition, Todd Keener,
Stonehenge’s president, and other employees are expected to join the RMI
team.
Founded in 1992, Stonehenge is a Colorado-based ISP with 2,200 subscribers.
In addition to Internet access, the company also provides network
consulting and cabling. Recorded revenues for 1997 amounted to $500,000.
“We are excited about the acquisition because of the momentum it creates in
our drive to build a
national Internet communications company,” said Douglas H. Hanson,
president, CEO and chairman of Rocky Mountain Internet. “Stonehenge is also
a very reputable Internet business, and we are glad to have them aboard.”
The transaction is expected to close by the end of October 1998, the firms
said.
Rocky Mountain Internet is a full-service, national telecommunications
company providing Internet access, high-speed Internet access
through wireless cable technology, Web development and hosting,
network management, system integration, co-location services, local
phone service and IP Telephony long distance standards.