PRIMARY NETWORK RETURNS IN PURCHASE OF BUSINESS INTERNET
SERVICE FROM Mpower
ST.
LOUIS, MO. (May 22, 2001): The founders of Primary Network,
a leading regional Internet company, have acquired more
than 5,000 business customers in the St. Louis and Kansas
City areas as part of a purchase agreement with Mpower
Communications Corp.
"Our
reacquisition of Primary Network and its important Internet
business base means we are returning this service to its
core market and putting our corporate Internet customers
first," said Brian Matthews, a founder of Primary
Network and CEO of CDMventures.com. "Our customers
will have a transparent transition that will give them
high quality service and a reliable partner for the future."
Matthews
and the other owners of Primary Network sold their business
to Mpower last year in a deal valued at about $145 million.
Mpower expanded its interests into telephone service and
digital subscriber line, DSL, service to businesses. The
founders of Primary Network decided to buy back the Internet
service component after Mpower announced plans to shutdown
the Internet and telephone service and lay off 275 employees
nationwide.
"We
believe that Primary Network is an excellent business
service that values its customers and will remained focused
on its main core competency," Matthews said. "We
will keep our eye on the ball."
Terms
of the purchase from Mpower were not disclosed, but Matthews
said the agreement included the right to relaunch the
Primary Network name. Current customers of Mpower will
receive bills from Primary Network starting in June. Customers
with questions or seeking more information about the transition
can log on to www.primary.net.
Matthews
said the new Primary Network will begin with approximately
25 employees and rapidly expand its employee base to keep
up with demand.
"We
are excited that we were able to reacquire the essential
business of Primary Network under favorable terms and
with the conviction that we can make this the best Internet
service available for business." Matthews said.
