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PSINet scoops up ISPs
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September 20, 1999: 11:29 a.m. ET
Firm acquires Internet providers from Spain, Brazil and Hong Kong
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NEW YORK (CNNfn) - Internet service provider PSINet Inc. acquired four international Internet firms Monday in a bid to expand its presence in the global market.
The Herndon, Va.-based firm bought two Spanish Internet service providers -- Infase Comunicaciones and Ciberia Internet -- as well as Brazil's ServNet Servicos de Informatica e Communicacao and Hong Kong's Vision Network Limited.
PSINet (PSIX) didn't disclose terms of the deals.
"PSINet is committed to solidifying its position in the Spanish market," said Harry G. Hobbs, president of PSINet Europe. "We have acquired four Internet companies there in the last two months."
PSINet shares rose 1-3/16 to 41-7/8 in Monday morning trading.
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PSINet
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