Globix to Acquire Comstar.Net
NEW YORK – August 23, 2000
NEW YORK – August 23, 2000 – Globix Corporation (NASDAQ: GBIX), a leader in advanced Internet Data Center services, high-speed access, and streaming media solutions for business, has agreed to acquire privately held Comstar.net, Inc., a leading provider of managed e-business solutions, to meet the growing demand for network security and managed application services. Globix will pay approximately $211,000 in cash and will issue approximately 241,000 shares of its common stock in exchange for all of the issued and outstanding shares of Comstar.net. The acquisition is expected to be completed this month.
This addition brings Globix to Atlanta and Washington, D.C., where it will offer its full suite of products and services. Comstar.net founders Cary Howell and Ed Landa formerly worked at MindSpringEnterprises, Inc., where Howell managed the Network Operations group.
‘We look forward to welcoming the Comstar.net team and its customers to Globix,’ said Marc H. Bell,chairman and CEO of Globix. ‘They share the Globix commitment to quality, as evidenced by theirreputation for providing hands-on technical expertise and outstanding customer service. Now thosecustomers will have the best of both worlds – a full-service Internet provider with world-class data centers, a carrier-class backbone network, and the local, hands-on, personalized application services on which they’ve come to rely.’
Globix is a leading provider of advanced Internet hosting, network and applications solutions for business. Globix delivers services via its secure state-of-the-art Internet DATA Centers, its high-performance global backbone and content delivery network, and its world-class technical professionals. Globix provides businesses with cutting-edge Internet resources and the ability to deploy, manage and scale mission-critical Internet operations for optimum performance and cost efficiency.