Web Host NaviSite to Acquire netASPx

• By theWHIR.com , September 13, 2007

•   Digg
    Delicious
    Reddit
    Newsvine
    Stumbleupon
    Twitter
  Facebook

  (close)

  From:

  To:

  (close)
  Share | Send | Print | Comments (0)

September 13, 2007 -- (WEB HOST INDUSTRY REVIEW) -- Managed hosting provider NaviSite (navisite.com) announced on Thursday it will acquire privately-owned applications management service provider netASPx for $40.5 million.

The deal, which was expected to close by the end of Wednesday, includes approximately $15.5 million in cash and $25 million in convertible preferred stock, says the company.

NaviSite says the acquisition of the Herndon, Virginia-based company broadens its existing portfolio of applications management expertise, expands its customer base and strengthens its presence in the Midwest.

The acquisition was financed through a $20 million addition to NaviSite's current senior term facility and the issuance of $25 million of series A convertible preferred stock, says the company. NaviSite shares increased by 25 cents, or 3.6 percent, to $7.30 yesterday morning.

Last month, NaviSite announced it acquired Web hosting providers Alabanza and Jupiter Hosting for approximately $15.5 million.

• Print | Comments (0)

OLDER:  Tier1 Covers Mass Market Hosting

|

NEWER:  SWsoft Acquires PSoft Division

• (0) Comments
• View Post