WESTLAKE VILLAGE, Calif., Nov. 5, 2002 (PRIMEZONE) -- United Online, Inc. (Nasdaq:UNTD) announced today that it has completed its acquisition of the Internet access and email service assets of BlueLight.com, a wholly owned subsidiary of Kmart Corporation (NYSE:KM).
United Online will pay, subject to certain adjustments, approximately $8.4 million in cash for the assets of BlueLight.com's ISP. As part of the acquisition, the majority of BlueLight.com's 19 employees who are involved with ISP operations are expected to become employees of United Online.
United Online intends to ensure that there will be no lapse in service for BlueLight.com's subscribers and that there will be no change to subscribers' email addresses.
"We are very pleased to welcome BlueLight Internet members to the United Online family," said Mark R. Goldston, chairman, CEO and president of United Online. "We will make every effort to make this a seamless transition for BlueLight Internet members and to provide the kind of reliable Internet service that they have come to expect."
About United Online
United Online, Inc. (Nasdaq:UNTD) is a leading provider of value-priced Internet access through its NetZero, Juno and BlueLight Internet consumer brands. The company's services are offered at less than half the standard prices of its major competitors and are available in more than 5,000 cities across the United States and in Canada. United Online has approximately 420 employees worldwide and is headquartered in Westlake Village, Calif., with offices in New York City, San Francisco and Hyderabad, India. For more information about United Online and its Internet access services, please visit www.untd.com.
This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statement. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: inability to successfully integrate the BlueLight business; inability to maintain the BlueLight employees; and the inability to maintain the service as currently provided. More information about potential factors that could affect the company's business and financial results is included in the company's most recent Form 10-K and other filings with the Securities and Exchange Commission (http://www.sec.gov) including (without limitation) information under the captions "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors."