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December 29, 1999

PSINet Moves Into Taiwan with JoinNet Acquisition

By CBR Staff Writer

Internet service provider PSINet Inc has expanded into Taiwan with the acquisition of privately-held JoinNet, headquartered in Taipei. The acquisition marks PSINet’s first entry into Taiwan, and is in accordance with the company’s plans to enter the top 20 telecom markets worldwide. PSINet says it now has operations in 19 of those markets. Terms of the agreement were not disclosed but PSINet said it expects the acquisition to be accretive to EBITDA (earnings before interest, tax, depreciation and amortization).

JoinNet serves both businesses and consumers with internet connectivity, web hosting and e-mail services. Once integrated within PSINet’s global operations, JoinNet customers will have access to PSINet’s full portfolio of dial-up and dedicated connectivity services. All of PSINet’s value-added services will also be added, including electronic commerce services, global roaming, intranet and security services.

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