Acquisition Marks RMI.NET's Entrance Into the Oklahoma Marketplace
WebZone Noted as Largest Independent ISP in State
DENVER, Aug. 3 /PRNewswire/ -- RMI.NET, Inc. (Nasdaq: RMII), formerly
Rocky Mountain Internet, a national e-business and convergent communications
company, has acquired WebZone, a Tulsa, Okla.-based Internet service provider
(ISP), for approximately $5.25 million in common stock, the company announced
today. WebZone has an annualized revenue run rate of approximately
$3 million.
(Photo: http://www.newscom.com/cgi-bin/prnh/19990628/RMILOGO )
Founded in 1996, WebZone in the largest independent ISP in Oklahoma. It
has become the fastest-growing, locally owned and operated ISP in Oklahoma,
delivering high-quality Internet connectivity and web-based solutions to
businesses, individuals and other Internet providers. The WebZone provides a
wide range of services, including high-speed, dedicated connections for
business networks, website development and hosting, colocation facilities, and
Internet application development.
"This acquisition marks our entrance into the Oklahoma marketplace, and we
believe we could not have chosen a better and more widely recognized partner
than WebZone," said Douglas H. Hanson, chairman and chief executive officer
for RMI.NET. "WebZone is locally known for its superior service, and it will
be instrumental in our efforts to strategically expand our national e-commerce
and Internet communications services to the small and medium-sized business
marketplace."
WebZone was voted "Absolute Best Place To Help You Get Online" by the
readers of Urban Tulsa for the past two years. WebZone has approximately
12,000 customers throughout Oklahoma.
"WebZone's success has been due in large part to the hard work and
resourcefulness of its employees. We intend to combine the talent and
expertise of our employees with the resources of RMI.NET, the objective being
to continue our growth, expand our reach, and give WebZone a major regional
presence in markets extending beyond our current service areas," said Pat
Milton, president for WebZone.
Milton will remain with RMI.NET in the Oklahoma market.
WebZone marks the third company to be acquired by RMI.NET in the past five
days. RMI.NET announced Friday that it had acquired Tucson, Ariz.-based Aces
Research, Inc., a dedicated access ISP; and Net One Communications Corp., a
Denver-based web hosting company. Since the first of the year, RMI.NET has
acquired 10 companies for $16.8 million; the companies have annualized revenue
run rates of approximately $18.4 million.
Denver-based RMI.NET, Inc., formerly Rocky Mountain Internet, is a
national commerce solutions provider focusing on turnkey e-business
applications and convergent communications. RMI.NET has developed and
provides small and medium-sized companies with scalable e-business
capabilities; customized web page development and hosting; nationwide Internet
dial up and dedicated access; digital subscriber line service (DSL); and
local, long distance and enhanced telephony. RMI.NET also provides Internet,
and data and voice communications services to consumer households. The
company wholly owns a proprietary port site and search engine, Infohiway, at
http://www.infohiway.com; and develops and markets Simplified Domains, a new and
emerging Internet domain registration, at http://www.simplifieddomains.com. For more
information on RMI.NET, call (800) 864-4327, or visit the company's 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, 1998, and may include other
risks described in all Securities and Exchange Commission filings submitted as
of this date.
SOURCE RMI.NET, Inc.
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http://www.prnewswire.com/comp/139760.html or fax,
800-758-5804, ext. 139760
Photo Notes:http://www.newscom.com/cgi-bin/prnh/19990628/RMILOGO
For assistance: PR Newswire Photo Desk, 888-776-6555 or
201-369-3467
CONTACT:
Mark Stutz of RMI.NET, Inc., 303-313-0672,
mark.stutz@corp.rmi.net
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