Current Report — Form 8-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 8-K Form 8-K Dated January 5, 1999 4 17K
2: EX-20.1 Press Release Dated January 5, 1999 2 14K
3: EX-23.1 Consent of Pricewaterhousecoopers LLP 1 5K
4: EX-23.2 Consent of Demeo, Young McGrath & Company, P.A. 1 6K
EX-20.1 — Press Release Dated January 5, 1999
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Exhibit 20.1
FOR IMMEDIATE RELEASE
January 5, 1999
[Download Table]
VERIO MEDIA CONTACT VERIO INVESTOR CONTACT
Paul Lonnegren Whitney Fogt
Clarus Public Relations, Inc. Verio Inc.
303.296.0343 (x241) 303.645.1921
paul@claruspr.com investors@verio.net Corporate newsroom:
Investor information:
http://newsroom.verio.net http://investors.verio.net
VERIO INC. BECOMES WORLD'S LARGEST DOMAIN-BASED WEB HOSTING COMPANY WITH CLOSING
OF HIWAY TECHNOLOGIES ACQUISITION
Web-Hosting Strength Positions Verio to Lead in Global Electronic Commerce
Explosion
ENGLEWOOD, CO (JANUARY 5, 1999) - Verio Inc. (NASDAQ:VRIO), a leading provider
of comprehensive business Internet services, today became the world's largest
domain-based Web-site-hosting company with the closing of its previously
announced acquisition of Boca Raton, Florida-based Hiway Technologies Inc.
Web-site hosting is the fundamental platform from which businesses establish
their global Web presence, publish online information about their products and
services, and engage in electronic commerce and other business Internet
activities. With its preeminent worldwide Web-hosting position, Verio is
strategically poised to capitalize on the global electronic commerce explosion.
Citing figures from Network Solutions' (NASDAQ:NSOL) InterNIC registration
service, Verio's acquisition of Web-hosting company Hiway Technologies makes
Verio the world's largest domain-based (www.yourcompany.com) Web-hosting company
with more than 160,000 hosted Web sites. Verio is also one of the fastest
growing domain-based Web-hosting companies, adding on average a new hosted Web
site about every five minutes and a new electronic "storefront" every five
hours. According to InterNIC data, Verio has approximately 260,000 domain-name
registrants in .com, .net and .org, representing over 7 percent of all domain
names currently in use. Verio offers domain-name registration services through a
strategic relationship with Network Solutions.
"Companies are recognizing in droves that Web sites allow them to conduct their
business online," said Verio CEO Justin Jaschke. "This acquisition, in
combination with Verio's own Web-hosting base, clearly establishes Verio as the
world's preeminent Web-hosting company and gives us tremendous leverage to take
a leading role in providing businesses with their e-commerce and related
enhanced Internet capabilities. With the closing of Hiway, we expect Web
hosting, electronic commerce and other enhanced services to comprise about 50
percent of Verio's revenue stream."
The Hiway acquisition adds more than 2,000 resellers to Verio's worldwide
distribution channels, increasing the company's reseller roster to more than
4,000 in more than 170 countries. "Hiway has an impressive track record of
market leadership and growth and brings to Verio the leading technology
platform, outstanding management and powerful distribution channels upon which
Hiway's success was built," Jaschke added.
Founded in 1995, Hiway Technologies provides Web hosting, regional Internet
access, advanced electronic commerce and Web server co-location services to more
than 105,000 customers. Hiway had revenues of approximately $11.4 million in the
three months ended November 1998. Verio's total purchase price for the
acquisition included $176 million paid in cash and the issuance of approximately
3.14 million shares of Verio's common stock. Additionally, Verio has assumed
Hiway's outstanding options and warrants that may be exercised for approximately
1.78 million shares of Verio's common stock. Following a transition period,
Verio will operate Hiway Technologies and its affiliates under the Verio brand
name and intends to quickly integrate Hiway into its existing operational
structure.
"Strategically and operationally, this merger makes a lot of sense for Hiway
Technologies and our customers," said Hiway Technologies President Scott H.
Adams. "The acquisition allows us to couple our leading Web-hosting services
with Verio's high-performance Tier One national network, large connectivity
customer base and existing enhanced service offerings. Together, we now have the
financial resources, technical infrastructure and management talent to
accelerate our already rapid growth in Web hosting, electronic commerce and
other business Internet services."
ABOUT VERIO INC.
Verio Inc. (NASDAQ:VRIO) is a leading provider of comprehensive business
Internet services - including broadband connectivity, virtual private networks,
Web-hosting solutions and e-commerce - with an emphasis on serving the small and
mid-sized business market. Since its inception in March 1996, Verio has rapidly
established a global presence through the acquisition, integration and growth of
independent Internet providers with a business customer focus. Verio supports
its operations with highly reliable and scalable national infrastructure and
systems including a facilities-based Tier One national network. Verio delivers
locally-based sales and engineering support in 41 of the top 50 U.S. markets
under the Verio brand name and provides Web-hosting services to customers in
more than 170 countries.
For more information on Verio, visit the company's Web site at www.verio.com.
The corporate headquarters are located in Englewood, Colorado at 8005 S. Chester
St., Suite 200, 80112, phone number 303.645.1900.
Except for the historical information contained herein, certain matters set
forth in this press release are forward-looking statements within the meaning of
the "safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are subject to risks and uncertainties,
including but not limited to fluctuations in operating results, additional
capital requirements, competition, integration of acquisitions and
implementation of network infrastructure. Readers are also encouraged to refer
to Verio's reports from time to time filed with the Securities and Exchange
Commission, including the Company's Current Report on Form 8-K filed on July 7,
1998, and the Company's Current Report on Form 8-K filed on October 28, 1998,
for a further discussion of Verio's business and risk factors that may affect
operating and financial results and the financial information provided herein
with respect to recent acquisitions.
Dates Referenced Herein and Documents Incorporated by Reference
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