Savvis Communications Buys Wam!net's Commercial Business
Group Logic offers Wam!net users deal to switch to MassTransit
SAVVIS Communications, a global provider of managed virtual private networks, has agreed to purchase WAM!NET's commercial business. Savvis currently has a global IP network that spans 45 countries and customers in the legal, media, retail, healthcare, manufacturing, and financial services markets. The Wam!net purchase expands Savvis' client base into the key vertical markets of print, publishing, retail, and consumer goods, and brings in expertise in content management.
Under the terms of the agreement, Savvis will acquire certain assets and customers of WamNet's in exchange for $3 million paid at closing, with additional payments possible in the second quarter of 2004, depending upon Wam!Net's revenue performance at the time.
Soon after the acquisition was made public, Group Logic announced a competitive upgrade program to encourage current Wam!net users to switch to the Group Logic's MassTransit Enterprise file-transfer software product. The special offer is in effect until Sept. 30, 2003.
"We have been contacted by many Wam!net users who are concerned about the impact of the acquisition on their file-transfer workflows," said Andy Lewis," Group Logic's vice president of sales and marketing. "There is a lot of uncertainty in the marketplace about how the acquisition will affect pricing, quality levels, and the future of the Wam!net network." (Savvis Communications Corporation: www.savvis.net. Wam!Net: www.wamnet.com; Group Logic; www.grouplogic.com)