PSINet Inc has acquired Swiss-based ISP The Internet Company (ITC) on undisclosed terms. Kriens, SwitzerLANd-based TIC serves both consumers and business via dial-up and dedicated lines and also offers digital subscriber line (DSL) services and web hosting. It is said to be the second largest ISP serving Swiss businesses and the fourth largest overall.
PSINet operates as a business-only ISP in the US, as well as providing backbone services to other carriers. But the company operates both consumer and businesses services in some of its markets overseas, including Canada and Japan. SwitzerLANd is also number 14 on PSINet’s list of the world’s top 20 telecommunications markets in which it wishes to have a presence. The acquisition is expected to be accretive to PSINet’s ‘earnings’, but only at the EBITDA level, which is fairly meaningless at this stage.
