| PSINet Inc. Monday continued its ISP buying spree in Brazil with the acquisition of STI, the fourth largest Brazilian ISP.
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The move follows PSINet's April acquisition of Openlink (Rio de Janeiro) and Horizontes Internet (Minas
Gerais), two other ISPs in Brazil. PSI now ranks as the third largest ISP
in the country, up from fifth with the new purchase.
STI is based in Sao Paulo, the largest state in Brazil. The acquisition
will add three points of presence to PSINet, bringing the worldwide
total to 530 POPs.
"The growth of Internet usage, both corporate and consumer, in Latin
America is enormous,"
said Harold Wills, PSINet president and chief operating officer. "With a population exceeding
35 million, Sao Paulo is a key market within Brazil. This acquisition
reinforces our strategy to become one of the top three ISPs in each of the
top twenty global markets."
Once integrated within PSINet, STI customers will have access to PSINet's
services, including connectivity, electronic commerce, Web hosting, global
roaming, intranet, voice-over-IP and others.
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PSINET INC. made headlines in the business press last year by using acquisitions to become Japan's number-two ISP for corporate accounts (see Japan-U.S.
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Terms of the agreements were not disclosed.
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