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September 8, 1997updated 03 Sep 2016 4:33pm

WINSTAR BUYS N2K’S TELEBASE DIVISION

By CBR Staff Writer

The New Media subsidiary of wireless telecommunications company WinStar Communications Inc has acquired N2K Inc’s Telebase division, with the aim of breaking into the information service providers arena. WinStar, which employs some 1,300 employees, was established in 1993 and aims to become an important player in the local telecommunications market while at the same time offering internet-based services to its customers. Telebase, which been renamed WinStar Telebase Inc, is a developer of online business reference services enabling users to have direct pay-as-you-go access to business resources. WinStar’s vice president of corporate communications, Louise Goodman said the company’s direction towards the local communications sector has come about as a result of the 1996 Telecommunications Act, with the company classing itself very much as an expanding operation now offering services in 14 US cities. Prior to its acquisition by N2K, the New York-based new media and music entertainment business in February 1996, Telebase had been trading as Telebase Systems Inc since 1984. Goodman believes that as the adoption of wide bandwidth wiring systems grows continues to expand, the industry will see more and more acquisitions similar to this one, with companies wanting to get in on the online aspect of telecommunications. Financial terms of the deal have not been disclosed, but it is known that all of Telebase’s 22 employees will continue to work for the newly named company at its offices in Wayne, Pennsylvania.

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