RMI.NET Acquisition Expands Company Presence in Chicagoland Market; AIS
Network Provides Business Customers E-Commerce Solutions and Dedicated Access
DENVER, Dec. 28 /PRNewswire/ -- RMI.NET, Inc. (Nasdaq: RMII), a national
e-business and convergent communications company, announced today that it has
acquired the assets of Chicago-based AIS Network Corp., a premier network
integrator and web site development company exclusively for business
customers.
(Photo: http://www.newscom.com/cgi-bin/prnh/19990628/RMILOGO )
AIS Network, a privately held company, was acquired for $3.65 million and
has an annualized revenue run rate of approximately $2.0 million. It provides
dedicated Internet access; web site development and hosting; e-commerce
solutions; application hosting; and Internet marketing and consulting. AIS
Network has nearly 700 strategic business customers in Chicagoland and
nationwide.
"AIS Network fits perfectly with our core business and strengthens our
position in the Greater Chicago area and throughout Illinois," said Douglas H.
Hanson, chairman and chief executive officer for RMI.NET. "One of the
additional benefits to AIS is that it is profitable and will immediately
contribute to our goal to be cash flow positive by the fourth quarter of next
year."
RMI.NET gives us the ability to grow with a premier national commerce
solutions provider and take our operations to a new level," said Dan Lundahl,
president for AIS Network. "Our combined expertise and customer-focus efforts
will distinguish us from the competition, and will give us the ability to
offer additional products and services in Chicago and nationwide."
Lundahl will continue in his role at AIS and will become RMI.NET's manager
for the Greater Chicago market.
AIS Network, founded in 1993, has developed strategic alliances with such
companies as the Microsoft Corp., Cisco Systems and others, which has allowed
it to deliver premier Internet solutions nationwide.
For RMI.NET, the acquisition marks the 16th company acquired in 1999.
With the addition of AIS Network, acquired through a common stock transaction,
RMI.NET now has more than 107,000 customers and an annualized revenue run rate
of approximately $50 million.
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). 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
PRN 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, 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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