New Edge Networks issued a press release confirming that it had placed classified ads in trade magazines and posted messages on Internet bulletin boards asking for viable companies to acquire.

by ISP-Planet Staff [April 2, 2003]

Sal Cinquegrani, executive director of corporate communications and investor relations for New Edge, confirmed that the company had placed ads and posted messages on Internet bulletin boards soliciting interest from companies that might help New Edge Networks grow.

"We got some phone calls asking about our ads and posts," said Cinquegrani, "so we issued the press release to confirm them."

He said that company has made many acquisitions in the past year. One acquisition that made headlines last year was the acquisition of Excite@Home's @Work subsidiary for $1.5 million. "We obtained equipment in 30 metropolitan areas, 1,200 business customers, and $18 million in annualized revenue," Cinquegrani confirmed.

Founded in 1999, New Edge Networks launched commercial service in March of 2000. Since then, it has raised $400 million in investment and increased annual revenues to about $100 million. Cinquegrani said the company expects to be EBITDA positive in May.

It focuses on serving small- and medium-sized businesses in tier 2, 3, and 4 cities. In smaller areas, the company had to build its own backbone, connecting back to exchange points in major cities.

Cinquegrani said that 85 percent of the company's business remains relationships with ISPs of all sizes. The company is interested in deals of any size that can add revenue immediately—almost anything except the purchase of equipment without customers attached.

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