Moving to broaden its business, Internet service provider EarthLink Inc. on Tuesday said it would acquire New Edge Network Inc., a provider of high-speed Internet access to companies, for $144 million in cash and stock. The acquisition will double EarthLink's business-related revenue. According to Philipp Muelbert of consulting firm Adventis Corp., "This is a natural extension for them. It diversifies their revenues and lets them jump start their [small and midsized business] activities."
December 15, 2005 at 12:00 AM
1 minute read
Moving to broaden its business, Internet service provider EarthLink Inc. on Tuesday said it would acquire New Edge Network Inc., a provider of high-speed Internet access to companies, for $144 million in cash and stock.
Terms call for Atlanta-based EarthLink to pay $114.3 million in cash and issue 2.6 million shares of its common stock, with a current value of around $30 million.
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