NextWeb Buys Innetix

Could this be the first of a wave of acquisitions? NextWeb, a fixed wireless ISP, purchases Innetix and its customer base in an all-cash deal.

by Michael Singer of siliconvalley.internet.com [April 16, 2002]

NextWeb, a fixed wireless network service provider, said it is plunking down an undisclosed amount of cash to acquire San Jose-based Innetix, Inc. and its customer base.

Innetix, a regional wireless Internet service provider was founded in 1996 by president and CEO Ken Jackson. The company offers wireless broadband, dial-up, collocation, hosting and design.

"This acquisition allows us to accelerate our business plan of providing reliable and secure high-speed business Internet access to the region. We look forward to providing our exceptional service and personalized support to the Innetix customer base," said, NextWeb CEO Graham Barnes.

With this acquisition, NextWeb said it is expanding its coverage by approximately 30 percent, potentially bringing NextWeb's low-priced, high-speed Internet access to more than 15,000 small and medium sized businesses in the Silicon Valley.

Fremont, Calif.-based NextWeb supplies high-speed Internet access and services to corporate users. The company's fixed-wireless network currently covers over 200 square miles with access to over 15,000 businesses in the San Francisco Bay Area.

Monet Capital, Kaiser Permanente, and Tenet Healthcare are among NextWeb's venture capital and strategic investors.

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