Feature Price Sale to Atlantic.Net Voided

• By theWHIR.com , August 29, 2003

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August 29, 2003 -- (WEB HOST INDUSTRY REVIEW) -- After nearly two months of legal sparring, Feature Price (featureprice.com) and Atlantic.Net (atlantic.net) have reached a settlement agreement over the sale of Feature Price's assets.

According to a notice posted on Atlantic.Net's Web site, the two parties were unable to reach a resolution that would enable the acquisition to continue as planned, and the original purchase agreement between the two companies has been declared null and void.

Atlantic.Net acquired the assets of Feature Price on May 21, which included a reported 40,000 customers. However, the two companies ended up in court after Atlantic.Net said the former entity of Feature Price denied Atlantic.Net employees access to Feature Price's equipment during the migration process. Shortly after access was denied, all service to Feature Price customers ceased due to factors that were unknown, according to Atlantic.Net.

Because some Feature Price customers have been migrated to Atlantic.Net, the company said it would continue to serve and support all former Feature Price customers who have already switched to Atlantic.Net. Feature Price is responsible for serving clients who remain on Feature Price's network, Atlantic.Net said.

"The original Asset Purchase Agreement is null and void," Atlantic.Net's notice read. "No equipment will change hands. This means that customers should contact Feature Price if they have questions about Web site files that remain on Feature Price's equipment."

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