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Web Hosting Provider Sitestar Acquires Magnolia Internet Services |
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January 30, 2007 – (HOSTSEARCH.COM) – Sitestar Corporation (http://www.sitestar.com), a residential and business Internet access, web hosting and value-added products and services provider, has acquired the assets of Magnolia Internet Services, it was announced recently. Arkansas-based Magnolia has a base of residential and business “dial-up, Digital Subscriber Line (DSL) and web hosting” customers.
Sitestar's acquisition continues the company’s policy of “disciplined growth through strategic acquisitions in target markets and the company's focus on increasing shareholder value”. Magnolia Internet customers are currently being migrated to Sitestar's network and infrastructure.
"The Magnolia Internet deal neatly dovetails with our strategy to acquire the assets or customers of the seller and transition them to the Sitestar platform," explained Sitestar’s CEO, Mr. Frank R. Erhartic, Jr. "Given our size and business processes, we're able to realize greater cost savings than most ISPs, so we can generate a faster and stronger return on investment. We have established a repeatable process whereby we are identifying, qualifying and negotiating deals to grow our customer base and revenues. Most importantly, we're looking out for our shareholders by staying disciplined and buying smart."
"On behalf of everyone at Sitestar, we welcome the new Magnolia Internet customers," added Mr. Erhartic.
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