April 7, 2005 — (WEB HOST INDUSTRY REVIEW) — Web hosting provider VIA NET.WORKS (vianetworks.com) announced this week the sale of two of its Swiss companies – VIA NET.WORKS (Schweiz) AG and VIA NET.WORKS Services AG – to former managers and owners of the business. The buy-out, led by Franz Grueter, Aldo Britschgi and Pius Grueter, was completed through their company, Solution24 AG.
This transfer of VIA?s two Swiss companies to their original management will provide continuity to its Swiss customers, partners and vendors, while maintaining a stable environment for its Swiss employees. VIA says the proceeds of the sale will provide it with additional funds, allowing the company time to continue exploring strategic and financial solutions to its immediate liquidity issues.
The company says it is discussing a variety of solutions, including the potential sale of all or parts of its business and the possibility of securing additional investments into, or financing for, the company. VIA says it should have an update on the progress of these solutions by next week.
VIA says that it is not in a position to file with the Securities and Exchange Commission its annual report on Form 10-K within the required timetable. The company intends to conclude and publish its financial report for year 2004 and the fourth quarter 2004 once the strategic or financial solution is clarified.
