Acquisition: Rocky Mountain Internet to Acquire Unicom Communications; RMI Adds Revenue and Customer Base Through Acquisition of Local Internet Service Provider – Company Business and Marketing
Rocky Mountain Internet Inc. announced Tuesday it has entered into a letter of intent to purchase Overland Park, Kan.-based Unicom Communications, Access and Hosting Business (http://www.unicom.net) in a stock transaction valued at $1.7 million.
The transaction is expected to close by the end of October 1998.
“Unicom has proven itself as a first-class provider in Internet access and Web hosting services, making them an ideal addition to Rocky Mountain Internet,” said Douglas H. Hanson, president, CEO and chairman of Rocky Mountain Internet. “This acquisition is another step in our drive to build a national Internet communications company.”
Founded in 1995, Unicom Communications is an Overland Park, Kansas-based ISP with 3,500 subscribers. In addition to Internet access, the company also provides Web hosting and e-commerce solutions. Recorded revenues for 1997 amounted to $875,000, a 48 percent increase from the previous year. Currently, Unicom is experiencing a revenue run rate in excess of $1,000,000. Among the company’s primarily business subscribers are Kansas City Power and Light, Data Supply Outlet, Universal Underwriters Group and Integrated Medical Resources.
“RMI’s full solutions vision and commitment to cutting-edge, high-quality Web-based services makes it one of the most visionary Internet companies on the market,” said Bill Miller, president of Unicom Communications. “We’re excited about the new possibilities this acquisition will create for us.”
As a result of the acquisition, RMI will obtain control of Unicom’s network operations, facilities and customers. Grant Rogers, Unicom’s Vice President of Technology and Services, is expected to join the RMI team along with other employees.
Rocky Mountain Internet (http://www.rmi.net) is a full-service, national telecommunications company providing a wide range of voice and data communication services to businesses and consumers. Services include dedicated, dial-up and wireless Internet access, Web development, hosting and marketing, electronic commerce and banner advertising management software applications, network management, system integration, co-location services, paging, local and long distance phone service, 800 service and IP Telephony.
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