September 19, 2001 |
Nippon Telegraph & Telephone Corp.'s Verio Inc. unit, which runs Internet sites for businesses, will trim its U.S. work force of more than 3,000 by 25% in a bid to pare costs and stem losses. The Englewood, Colo.-based subsidiary of Japan's NTT will consolidate some offices and data centers. Verio didn't disclose the locations of the offices to be closed. NTT paid $5.5 billion last year for Verio as part of a push to create a global Internet service for corporate clients.
May 8, 2000 |
NTT Communications Corp., the international and long-distance unit of NTT Corp., on Sunday said it will buy all the shares it doesn't already own in Verio Inc., the world's largest operator of Web sites, for $5 billion in cash. The NTT unit, which already owns 10% of the U.S. company, will pay $60 a share, 69% more than its closing price in New York on Friday. NTT Communications will make the tender offer on May 17, the company said.
August 24, 2000 |
President Clinton has decided to allow Japan's NTT Communications to buy U.S. Internet service provider Verio Inc., the White House announced Wednesday, saying the proposed deal would not threaten U.S. national security. The $5.5-billion deal attracted intense scrutiny by Washington because of worries that it might expose the United States to foreign espionage by giving Japan's state-controlled NTT access to U.S. wiretapping activities.
March 13, 1998
A Colorado Internet services company said Thursday that it has consolidated 30 local and regional affiliates nationwide, including two Orange County operations that it melded into one and now calls Verio Southern California. Verio Inc. said the consolidations are aimed at improving the company's presence in each of the 33 U.S. markets it serves.
June 11, 1998 |
Verio Southern California in Irvine will begin offering high-speed Internet service to small- and medium-size businesses in Los Angeles this week, and plans to roll out the service in Orange County in July. The Internet company, which is working with NorthPoint Communications Inc. of Irvine, will sell customers variations of digital subscriber line--or DSL--service.
May 19, 1999 |
As part of its expanded push into electronic commerce, IBM Corp. tapped Santa Monica-based IMall Inc. and First Data Corp. to provide an all-in-one package for small and medium-sized businesses to sell over the Internet. The deal combines IBM's Web site creation, maintenance and hosting services with First Data's credit card processing and merchant account establishment services and IMall's transaction services. It gives IMall an important stream of clients.