NextWeb Acquires Innetix

By Susan Rush
from BroadbandWeek Direct - April 15, 2002

NextWeb is extending the reach of its high-speed wireless service with the acquisition of Innetix Inc.

The fixed wireless network service provider says the transaction will expand its service offering in the San Francisco Bay and Silicon Valley areas by 30 percent. Although financial terms of the deal were not released, NextWeb will acquire the network infrastructure and customer base of the wireless ISP.

"This acquisition allows us to accelerate our business plan of providing reliable and secure high-speed business Internet access to the (San Francisco Bay and Silicon Valley) region," says Graham Barnes, NextWeb's CEO.

Once the deal is complete, NextWeb intends to increase the bandwidth and upgrade much of Innetix's network, to better serve its potential customer base of 15,000 small and medium-sized businesses.