PSINet, the internet service provider that has been concentrating on the corporate market for some time now yesterday swerved away from that strategy slightly by acquiring Canadian consumer ISP Interlog Internet Services Inc for undisclosed terms. Toronto-based Interlog brings with it more than 50,000 business and dial-up subscribers acquired over its four years of operations. PSINet already has a significant presence in Canada, where it claims to be the largest business ISP in the country; now it claims more than 100,000 individual users in all with the acquisition of the largest consumer ISP in the country. Unfortunately PSINet did not answer return any of our calls, so we cannot say whether it intends to sell of the consumer subscribers to company such as Mindspring, or whether it intends to retain them. Our bet would be for a sell off. The Herndon, Virginia company said all the Interlog employees are staying on. PSINet’s shares closed down $1.125, or 5.8% at $18.25 on more than double the average daily volume, but on a bad day for internet stock all round.
