Internet service provider Verio Inc has continued its seemingly perpetual buying spree by snapping up Cleveland-based outfit Internet Access Group Inc. The purchase price for IAG, which currently generates revenue at a rate of $2.0m per quarter, was $15.1m. Verio says that the purchase – which includes IAG affiliates Great Plains Net Inc and QualNet Inc – expands its locally-based offerings from 39 to 41 of the top 50 US markets and makes its business internet services and support available in Ohio, Michigan and Southern Illinois. Predictably, Verio will move quickly to integrate the new business into its national operations, while maintaining IAG’s offices for local sales, engineering and customer service. Founded in 1995, IAG provides high-speed dedicated internet access, firewall services, and other business internet services. It claims to have more than 5,000 customers, including the American Red Cross, The Rock’n’Roll Hall of Fame, Buchanon Ingersol and The Limited Inc.
