DENVER, June 28 /PRNewswire/ -- RMI.NET, Inc. (Nasdaq: RMII), formerly
Rocky Mountain Internet (RMI), a national e-business and convergent
communications company, announced today the acquisition of the Internet
service provider (ISP) assets of Peoria, Ill.-based CyberDesic Communications,
Inc. The ISP assets, including the customer base, were acquired for $570,000
in common stock and have projected revenue run rates in excess of $385,000 for
1999.
This is RMI's second acquisition in the central Illinois area. RMI
announced in February, 1999 the acquisition of Dave's World, a full service
Internet communications provider based in Bloomington, Ill. This acquisition
augments Dave's World operations in Peoria and the central Illinois region.
"Our acquisition of CyberDesic's customer base of dedicated access and
hosting greatly strengthens our position in Illinois and our existing
operations in Bloomington," said Douglas H. Hanson, chairman and chief
executive officer for RMI.NET. "The addition of these assets is in keeping
with our geographic expansion plans and our strategic efforts to expand
RMI.NET's national presence."
"We are pleased to have a company with such an excellent reputation as
RMI.NET acquire these assets. Our customers will be well served," said
Hal J. Baylor, president of InterAction Online, the subsidiary of CyberDesic
that owns the assets. "We have provided quality service to our customers over
the years, and we know that RMI.NET will continue that tradition and expand on
it by providing a host of new e-commerce services to our market."
The acquisition marks the fifth major move by RMI in the past two weeks as
it continues to fulfill its promised, aggressive growth strategy in 1999. The
company also recently acquired Internet Connect, a Salt Lake City-based ISP;
IdealDial, a Denver-based enhanced telecommunications services provider;
Colorado Mountain Net, a Steamboat Springs, Colo.-based ISP; and CommerceGate,
a Seattle-based Internet e-commerce software development and consulting
services company.
RMI.NET, formerly Rocky Mountain Internet, is a Denver-based e-business
and convergent communications company focused on providing a single-source
network of Internet and telecommunication solutions for small to medium-size
businesses, small office/home offices (SOHOs) and consumer households. RMI
possesses the full spectrum of tools needed to effect the realization of
e-business and converging communications -- from commerce-enabled web
design, hosting and marketing to dial-up and dedicated Internet access and
local, long-distance and IP telephony. RMI also wholly owns a proprietary
portal site and search engine, Infohiway, at http://www.infohiway.com. For more
information call 1-800-864-4327, or visit our web site at http://www.rmi.net.
This press release might contain forward-looking statements. These
forward-looking statements are subject to risks and uncertainties. Actual
results may differ materially from such forward-looking statements as a result
of risks and uncertainties which are described in the cautionary statements
section of the company's 10K dated December 31, 1997, and other risks as set
forth in the company SEC filings.
SOURCE RMI.NET, Inc.
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Related links:
http://www.rmi.net
Company News On-Call:
http://www.prnewswire.com/comp/139760.html or fax,
800-758-5804, ext. 139760
CONTACT:
Mark Stutz of RMI.NET, Inc., 303-313-0672,
mark.stutz@corp.rmi.net
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