PSINet buys e-transaction processing firm
LONDON -- Looking to expand its holdings in the online marketplace,
Internet service provider PSINet Inc. is buying Transaction Network Services
Inc. for $720 million, the companies
today.
The deal includes $351 million in cash and up to 7.8 million PSINet common
shares. If it's approved by shareholders and regulators, the deal is due to
close in the fourth quarter, PSINet said.
Transaction Network Services is an e-commerce data processing firm, handling
about 20 million Internet transactions per day from 2 million businesses in
Ireland, the U.K., Sweden, France, Australia and Japan, according to the
company. According to PSINet's statement, the deal will allow Transaction
Network Services to expand its international reach operating over PSINet's
global backbone, which has more than 600 points of presence.
PSINet has been aggressively moving into the e-commerce arena, most recently
in Brazil this past June when the company announced plans to buy fiber-optic
networks and to establish data centers there.
www.computerworld.com
Sign up for ITworld's Daily newsletter
Follow ITworld on Twitter @IT_world
Esther Schindler
If the comments are ugly, the code is ugly
claird
SVG a graphics format for 21st century
pasmith
Take Chrome OS for a test spin
Sandra Henry-Stocker
Solaris Tip: Have Your Files Changed Since Installation?
jfruh
Android fragments vs. the iPhone monolith
mikelgan
What Gizmodo missed about the Pro WX Wireless USB disk drive
Sidekick: The Good News & the Bad News
Either way you look at it Microsoft Data Center management did not follow standards or best practices in this failure. In which case it makes me wonder more about the outsourcing of corporate data much less personal data.
- mburton325
Join the conversation here
Quick, practical advice for IT pros. Made fresh daily.
Want to cash in on your IT savvy? Send your tip to tips@itworld.com. If we post it, we'll send you a $25 Amazon e-gift card.
