PC maker Micron Electronics Inc has agreed to acquire privately- held NETLimited Inc, a Los Angeles-based internet content and applications hosting company that does business under the name HostPro. While the two have only signed a non-binding letter of intent for now, Micron says if the deal goes through it will hand over an undisclosed amount of cash in exchange for all of the outstanding stock of HostPro.
HostPro markets its web-hosting services mostly at the small- and medium-sized business market. It claims more than 11,000 accounts and revenues growing at more than 10% a month. Some of its larger customers include Caesar’s Palace, California Federal Bank, Xerox, CBS and Tri-Mark Pictures.
Micron says the deal comes as one of several initiatives the Nampa, Idaho-based company is launching to become a full service provider of internet, networking services, and hardware for the SME market. It expects to come to a definitive agreement on the acquisition on or before July 31, when the letter of intent expires.
