Atlanta, GA — (Business Wire) — Interland, Inc.
(Nasdaq: INLD), a leading provider of Web hosting and online services
for small and medium-sized businesses (SMBs), today announced the
closing of the previously announced acquisition of Hostcentric. In
return for all the outstanding shares of the company, Hostcentric
shareholders received $3 million in cash and approximately 13.5 million
shares of Interland stock.
“The acquisition of the Hostcentric organization should have an
immediately positive financial impact,” said Joel J. Kocher, Interland’s
chief executive officer. “We are pleased to close the scale-driven
acquisition chapter of Interland’s strategy with the consummation of
this attractive transaction,” said Kocher.
As previously announced, the acquisition of Hostcentric will enhance
Interland’s scale and widen its lead in the small-business hosting
market through the addition of tens of thousands of shared Web sites,
hundreds of dedicated servers and more than 1,000 reseller channel
partners. In addition, the combined customer base will benefit from the
continued availability of Hostcentric services currently not offered by
“Hostcentric customers, employees and shareholders should benefit
from joining Interland given the company’s industry leadership, strong
financial position and future prospects. We look forward to contributing
to Interland’s success,” said Greg McKown, Hostcentric’s chief
Interland’s management plans to comment further on the positive
financial impact of this transaction during its upcoming third-quarter
fiscal year 2003 earnings announcement and analyst conference call.
Interland, Inc. (Nasdaq: INLD) is the leading Web hosting and online
services company dedicated to helping small and medium businesses
achieve success by providing the knowledge, services and tools to build,
manage and promote businesses online. Interland offers a wide selection
of online services, including standardized Web hosting, e-commerce,
application hosting, and Web site development, marketing and
optimization tools. For more information about Interland, please visit www.interland.com.
Formed in 2000, Hostcentric is a provider of a broad range of Web
hosting services to SME and enterprise customers. More information about
Hostcentric can be found at www.hostcentric.com.
The foregoing contains “forward-looking statements” which are based
on management’s beliefs as well as on a number of management assumptions
concerning future events and on information currently available to
management. Such forward-looking statements are not a guarantee of
performance and are subject to a number of uncertainties and other
factors, many of which are outside Interland’s control, which could
cause actual results to differ materially from such statements.
Statements regarding the future financial results expected to result
from an acquisition are dependent upon the accuracy of numerous
assumptions and projections relating to transition and integration
costs, customer churn and other factors, and no assurance can be given
of the accuracy of such statements. For a more detailed description of
factors that could cause a difference between forward-looking statements
and actual results, please see Interland’s registration statement on
Form S-4 filed in connection with the Hostcentric transaction (SEC File
no. 333-104612), as well as its most recent Form 10-K, Forms 10-Q and
Forms 8-K and other filings with the Securities and Exchange Commission.
Interland disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.