Internap Moves to NASDAQ
September 15, 2006 — (WEB HOST INDUSTRY REVIEW) — Intelligent routing services provider Internap Network Services (internap.com) announced on Friday that it will commence trading on the NASDAQ Stock Market under the ticker symbol “INAP,” effective at market opening on September 19.
Until then, Internap stock will continue to trade on the American Stock Exchange under the symbol “IIP.” The move back to the NASDAQ Global Market places Internap among its technology peers.
“The decision to return to the NASDAQ follows our first two sequential profitable quarters, during which cash was added to the balance sheet through greatly improved operating leverage,” says James P. DeBlasio, CEO of Internap. “These accomplishments are the result of a consistent and disciplined approach to improving our cost structure and driving double-digit annual revenue growth.”
This marks a crucial development in Internap’s ability to market its unique value position within the high-growth tech sector. The company offers a broad portfolio of carrier-neutral IP services to over 2,100 customers that use the Internet to deploy mission-critical applications, largely in areas of finance, media, e-retail and video gaming.
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