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Article: PSINet Acquires Internet Companies in Hong Kong, Germany, France, United States
- Article from:
- PR Newswire
- Article date:
- July 7, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HERNDON, Va., July 7 /PRNewswire/ -- PSINet Inc. (Nasdaq: PSIX) announced that it completed the purchase of four Internet companies, in Hong Kong, Germany, France and the United States, for approximately $46.0 million in cash. These four companies generate annual revenue of over $23.0 million and represent another major step in executing PSINet's strategy to expand its presence in the top 20 telecommunications markets worldwide.
These acquisitions further strengthen PSINet's leadership position as the largest independent global facilities-based Internet communications provider. "Having completed a $600 million financing earlier this year, our primary ...