This Addition Positions RMI.NET as a Leading Commerce Solutions Provider
In Pacific Northwest
DENVER, Sept. 8 /PRNewswire/ -- RMI.NET, Inc. (Nasdaq: RMII), a national
e-business and convergent communications company, announced today that it has
acquired the assets of Seattle-based WolfeNet, a leading provider of web
hosting and Internet-related services, in a common stock transaction valued at
$6.6 million. Annualized revenue run rates for the WolfeNet acquisition are
expected to be $3.6 million.
(Photo: http://www.newscom.com/cgi-bin/prnh/19990628/RMILOGO )
WolfeNet provides a full range of Internet services that will complement
RMI.NET's existing regional and national operations, including web design, web
hosting, co-location and web marketing; electronic commerce solutions;
traditional Internet access for corporate networks and residential users; and
Intranet consulting.
"We are now positioned as a premier commerce solutions provider in the
Pacific Northwest," said Douglas H. Hanson, chairman and chief executive
officer for RMI.NET. "WolfeNet adds to our growing family of companies, based
in Seattle, that will provide the Pacific Northwest with the finest e-commerce
and Internet service solutions."
Ray Gurke, president of WolfeNet, will become RMI.NET's regional vice
president for Pacific Northwest operations.
"The combination of RMI.NET's existing companies with WolfeNet's
operations in the Pacific Northwest bodes well for small and medium-sized
companies looking to expand their e-commerce and Internet presence and
capabilities," Gurke said. "We will be able to offer e-business capabilities,
Internet access and web solutions unparalleled in this marketplace."
In addition to its expanded presence in the Pacific Northwest, Hanson
noted that RMI.NET is uniquely positioned in the industry to offer its
customers the three major components of a successful e-commerce solutions
provider: e-business applications services; high-speed, dedicated Internet
access services; and Internet hosting and marketing services.
In a related announcement, RMI.NET also noted that its Seattle-based
subsidiary, Application Methods, has changed its name to RMI Web Solutions.
This better reflects its national corporate identity and the completion of its
integration into the parent company operations.
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
dialup and dedicated access; Digital subscriber line (DSL) service; and
traditional communication services, including Internet telephony. The company
wholly owns a proprietary portal site and search engine, Infohiway, at
http://www.infohiway.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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Related links:
http://www.rmi.net
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/19990628/RMILOGO For
assistance: PR Newswire Photo Desk, 888-776-6555 or 201-369-3467
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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