Sitestar Acquires Two Internet Companies
Friday July 02 2004, 14:40:10
http://www.w3reports.com
Sitestar Corporation today announced that it has entered into an agreement with Virginia Link Internet, a local Internet company in Galax, and Mount Airy Networks LLC, a local Internet company in Mount Airy, N.C. The arrangements consist of acquiring the dial-up Internet customer base and related assets of both companies.
Larry Thompson, one of the owners of Virginia Link, will continue to operate the computer repair, web design and web hosting business in a non-competitive manner and he will become an agent selling Sitestar's Internet Services.
"This move frees me up to focus on our other businesses and provide our Internet dial-up customers the enhanced services and greater calling area offered by Sitestar," said Thompson. "Our customers will still be able to come in for any computer and web support they need."
"These agreements will add additional revenue with nearly 2,000 new dial-up customers to our company and they are consistent with the acquisition facet of our growth strategy," reported Frank Erhartic Jr., President and CEO of Sitestar Corporation. "We already locally serve the geographic footprint of these companies and anticipate substantial cost savings resulting from the consolidation of resources.
"Transitioning these customers to our system should be fairly seamless and quick. We will be keeping the office space in Galax for customer convenience. We look forward to working with Mr. Thompson to build both of our businesses together."
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