PSINet has continued its rapid international expansion with the acquisition of Internet Prolink, a leading internet service provider in Switzerland. Geneva-based Internet Prolink operates in 12 cities in Switzerland and in the Gex/Haute Savoie region of France. PSINet plans to make its European headquarters in Switzerland. With the aid of a $30m cash injection from a group of investment banks (CI No 3,288), PSINet paid $25m for Toronto, Canada-based iStar Internet last week (CI No 3,287). It began its expansion into Europe last month with the purchase of CalvaCom SA. Based in Herndon, Virginia, PSINet has been slowly cutting its losses as revenues grow.
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