PRIMUS Telecommunications Announces Acquisition of German ISP.MCLEAN, Va., May 27 /PRNewswire/ -- PRIMUS Telecommunications Group, Incorporated (Nasdaq: PRTL PRTL Post-Registration Training and Learning ), a global facilities-based telecommunications company See telecom company. , announced the acquisition of leading independent German Internet Service Provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. ) TCP/IP GmbH, operator of the Contrib.Net Internet backbone (communications, networking) Internet backbone - High-speed networks that carry Internet traffic. These communications networks are provided by companies such as AT&T;, GTE, IBM, MCI, Netcom, Sprint, UUNET and consist of high-speed links in the T1, T3, OC1 and OC3 ranges. . Terms of the acquisition were not disclosed. For PRIMUS, and its newly formed Internet/data subsidiary iPRIMUS.com, this acquisition will add a strong base of business ISP customers in Germany, link TCP/IP GmbH's advanced Internet network infrastructure into PRIMUS's world class global network, and permit the rapid deployment of advanced data services and other products in Germany. "With the acquisition of TCP/IP GmbH, PRIMUS will be able to offer existing and potential German customers a bundled package of long distance services, high-speed Internet access See how to access the Internet. and data services," said Dr. Norbert Posch, Chief Executive Officer of PRIMUS Germany. "We were attracted to TCP/IP for its unparalleled retail brand recognition in the German market, business customer base, technological leadership and highly qualified staff," he continued. "The German Internet/data market is massive and growing rapidly, and we found a strong partner in PRIMUS to support and complement our initiatives to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. this opportunity," said Sascha Zumbusch, Chief Executive Officer of TCP/IP GmbH. "This acquisition is an excellent opportunity to offer our customers direct access to one of the most extensive and advanced communication networks in the world." "This acquisition marks another step in PRIMUS's strategy to offer retail customers in our eight major markets around the world one-stop shopping for bundled voice, data, Internet and cellular services," said K. Paul Singh, Chairman and Chief Executive Officer of PRIMUS Telecommunications Group. "Through iPRIMUS.com, we currently offer Internet services in Australia and Canada. Now we can add Germany to the list of countries where iPRIMUS.com will conduct operations as a rapidly expanding global ISP. The common link to these operations is PRIMUS's unique global fiber and satellite broadband network." The founders and former owners of TCP/IP GmbH, Heiko Blume and Sascha Zumbusch, along with their specialized technical and sales/marketing staff, will remain with the company. About TCP/IP GmbH TCP/IP GmbH is an ISP with its own backbone (Contrib.Net), 11 nodes, network centers throughout Germany, as well as server housing facilities in Berlin, Dusseldorf, Frankfurt, Freiburg, Hamburg, Hannover, Erfurt, Mannheim and Munich. Currently, TCP/IP GmbH offers customers a broad range of products and services for the professional use of the Internet. These include consulting, Virtual Private Networks (VPN (Virtual Private Network) A private network that is configured within a public network (a carrier's network or the Internet) in order to take advantage of the economies of scale and management facilities of large networks. ), dial up access, fixed lines, server housing, E-Commerce solutions and web design. TCP/IP GmbH is a member of the iPass Alliance, a worldwide network of ISPs providing Internet roaming services in 3,000 cities for local dial-up access. Further company information is available at http://www.tcpip-gmbh.de; http://www.contrib.net. About PRIMUS PRIMUS Telecommunications Group, Incorporated is a global facilities-based telecommunications company providing domestic and international long-distance voice, data, Internet, private network and value-added services. The Company provides services through an extensive global network of owned and leased transmission facilities, including ownership interests in 23 undersea fiber optic cable Noun 1. fiber optic cable - a cable made of optical fibers that can transmit large amounts of information at the speed of light fibre optic cable transmission line, cable, line - a conductor for transmitting electrical or optical signals or electric power systems, 12 international gateway switches, a satellite earth station and a variety of operating relationships that allow the Company to deliver traffic worldwide. Founded in 1994 and based in McLean, Va., the Company has an annual revenue run rate in excess of $500 million and serves more than 650,000 corporate, small- and medium-sized business, residential and telecommunications carrier customers located in the North America, Europe and the Asia-Pacific regions of the world. News and information are available at the Company's Web site at www.primustel.com. The statements in this release that are forward looking statements are based on current expectations and are not strictly historical statements, which may differ materially from actual results. Not strictly historical statements include, without limitation, those regarding management's plans, objectives and strategy for future operations, product plans and performance, management's assessment of market factors, and future financial performance. Among factors that could cause actual results to differ materially are changes in business conditions, changes in the telecommunications industry and the general economy; competition; changes in service offerings; risks associated with PRIMUS's limited operating history, entry into developing markets, and managing rapid growth; and risks associated with international operations (including foreign currency translation risks), dependence on effective information systems, and development of the network. These factors are discussed more fully in PRIMUS's filings, including its 10K and 10Q filings and the prospectus dated May 6, 1999, with the Securities and Exchange Commission. |
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