Merger firms 5th-largest Net provider

Article Abstract:

Internet Direct's C$17.4-million merger deal with ID Internet Direct Ltd. will create the fifth-biggest Internet access provider in Canada. Under the deal, Toronto, Ontario-based Internet Direct will own 55% of the new company resulting from the merger, while Vancouver, BC-based ID Internet Direct will hold 45%. The new entity, which will serve 90,000 customers, will follow in ranking after Montreal, Quebec-based BCE Inc.'s Sympatico division; Pickering, Ontario-based Call-Net Enterprises Inc.'s Sprint Canada unit; Dulles, VA-based America Online Inc.'s Canadian business; and Markham, Ontario-based PsiNet Ltd.

Comment:

Its C$17.4-million merger deal with Internet Direct will create the fifth-biggest Internet access provider in Canada

Ontario, British Columbia, Internet Direct, ID Internet Direct Ltd.

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PsiNet buys Interlog to boost Internet position

Article Abstract:

PsiNet Ltd., which is a subsidiary of PsiNet Inc. of Herndon, VA, acquired Toronto, Canada-based Interlog Internet Services Inc. on Jul. 29, 1998, for an undisclosed sum. The acquisition of Interlog by PsiNet Ltd. strengthens the latter's status as one of the biggest Internet access providers in Canada. The PsiNet Ltd.-Interlog deal will combine PsiNet Ltd.'s Istar Internet Inc. division, which has 80,000 subscribers, with the 50,000-client Interlog. In January 1998, PsiNet Ltd. paid C$21.6 million to purchase Istar of Ottawa, Canada.

Comment:

Acquires Toronto, Canada-based Interlog Internet Services Inc on 7/29/98 for an undisclosed sum

Canada, Asset sales & divestitures, Interlog Internet Services Inc., PsiNet Ltd.

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