Acquired Company Provides Dialup, Dedicated And
Web Hosting Services in Arizona
DENVER, Nov. 23 /PRNewswire/ -- RMI.NET, Inc. (Nasdaq: RMII), a national
e-business and convergent communications company, announced today it has
purchased certain Internet customer base and equipment from Networld.com,
Inc., a wholly owned subsidiary of Phoenix-based FutureOne, Inc.
(OTC Bulletin Board: FUTO), for approximately $2.75 million. Annualized
revenue run rates for the acquisition are expected to be $1.6 million.
(Photo: http://www.newscom.com/cgi-bin/prnh/19990628/RMILOGO )
FutureOne provides Internet services to approximately 7,500 customers in
Arizona. The acquisition expands RMI.NET's presence in the southwestern U.S.
and makes RMI.NET the largest independent provider of Internet services in the
Arizona market.
"This acquisition is in keeping with our strategic expansion plans because
we have added assets that immediately provide us with positive cash flow, and
augment an existing area of our national operations," said Douglas H. Hanson,
chairman and chief executive officer for RMI.NET. "This acquisition also
provides us with the opportunity to sell additional products and services to
new customers in this regional market."
RMI.NET focuses on providing small and medium-sized businesses with
e-commerce applications, including streaming video; web solutions, including
design, hosting and marketing; and high-speed Internet access, including
Digital Subscriber Line (DSL) service. RMI.NET also provides high-speed
Internet access and other services to consumers.
The FutureOne assets acquired by RMI.NET include dialup, dedicated and web
hosting customers in Arizona, including Phoenix, Prescott, Flagstaff, Lake
Havasu and Tucson. The assets include eight "points of presence" (POPs) in
Arizona. Combined with existing RMI.NET operations in the region, RMI.NET
customers will benefit from greater bandwidth capabilities, and increased
technical support and infrastructure for Internet services.
The acquisition of the Internet assets of FutureOne is RMI.NET's third
acquisition in Arizona. In November 1998, RMI.NET acquired InternetNow!, an
award-winning Internet service provider (ISP) based in Phoenix. In July 1999,
it acquired ACES Research, Inc., a high-end, dedicated access ISP based in
Tucson. With the acquisition of Networld.com, RMI.NET has added 20 companies
to its operations since June 1998.
About RMI.NET
Denver-based RMI.NET, Inc., formerly Rocky Mountain Internet, is a
national commerce solutions provider focusing on e-commerce and convergent
communications. The company specializes in e-business applications; web
solutions, including design, hosting and marketing; and high-speed Internet
access, including Digital Subscriber Line (DSL). RMI.NET has an annualized
revenue run rate of $45 million and more than 99,000 nationwide customers.
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
Company News On-Call:
http://www.prnewswire.com/comp/139760.html or fax,
800-758-5804, ext. 139760
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/19990628/RMILOGO
PRN Photo Desk, 888-776-6555 or 201-369-3467
CONTACT:
Mark Stutz, Manager, Media Relations,
303-313-0672, mark.stutz@corp.rmi.net, or Steven P. Eschbach,
CFA, Vice President, Investor Relations, 303-308-2272,
steve.eschbach@corp.rmi.net, both of RMI.NET, Inc.
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