MORRISTOWN, N.J., Nov. 27, 2002 (PRIMEZONE) -- Access Integrated Technologies, Inc. (AccessIT), a leading provider of advanced Internet Data Centers (called AccessColocentersSM) and disaster recovery solutions, today announced it has acquired six profitable facilities from R. E. Stafford, Inc. d/b/a Colo Solutions(TM) in the following cities: Roanoke, VA; Wichita, KS; Waco, TX; Little Rock, AR; Manchester, NH; and Portland, ME.
The newest AccessIT facilities will bring the number of locations the company operates to nine, and will expand its current New York metro focus. Each of the acquired facilities, in keeping with AccessIT's current methodology, will provide space and services located in a technologically advanced hub for a wide range of telecommunications and data center customers. Features such as abundant power, high-speed connectivity with major carriers, and back-up power and security systems will be provided to new and future AccessIT customers.
"We are very pleased to acquire these fully-provisioned and populated Internet Data Centers in such strategic locations," said A. Dale Mayo, president and chief executive officer of AccessIT. "Not only does the current customer base provide us with positive cash flow, but we anticipate substantial revenue growth to result from our reseller program and from upselling our value-added managed storage and disaster recovery solutions."
The purchase agreement for the six facilities called for a cash payment at closing, and assumption of certain equipment leases. The purchase price was not disclosed.
About Access Integrated Technologies, Inc.
Headquartered in Morristown, New Jersey, AccessIT, Inc. is a leading provider of value-added, disaster recovery and managed storage services in its own carrier-neutral AccessColocenters, which also host numerous carriers as well as network infrastructure and service providers.
The company's AccessStorage-On-Demand(SM) services are designed to improve efficiency and provide cost-effective business continuance and storage management solutions, including its innovative AccessDIVArchive(SM) archival and retrieval service for the healthcare, financial and legal industries. To support and complement the company's comprehensive services portfolio, AccessIT designs, builds and operates carrier-neutral AccessColocenters for enterprises seeking the company's services as well as communications providers, e-commerce companies, content providers and ASPs seeking a secure facility for housing their mission critical network equipment. Customers seeking additional information about the company, or its services and facilities, are invited to call 973-290-0080 or visit the company's website at www.accessitx.com.
About Colo Solutions
Colo Solutions is the leading provider of Carrier-Neutral Colocation(TM) facilities in tier-2 and tier-3 cities. The company provides colocation facilities in telecom locations where carrier-neutral colocation facilities were previously unavailable. Each Colo Solutions facility offers a comprehensive suite of services, and a carrier-rich environment with direct access to multiple carriers and backbone providers.
Next Generation Service Providers using Colo Solutions' network of facilities profit from rapid deployment of new service offerings while taking advantage of network and route diversity, scalability, and cross-connect capability to other carriers or colocation customers. Colo Solutions facilities conform to the highest telco industry standards and provide systems that assure power availability, temperature control, state-of-the-art fire suppression and secured access. For additional information on Colo Solutions please visit www.colosolutions.com.
Forward-Looking Statements
This communication includes statements and other matters which are forward-looking and subject to a number of risks and uncertainties that could cause actual results to differ materially from expectations. The statements contained in this release that are forward-looking are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include, but are in no way limited to:
-- The company's dependence on the timely development, introduction and customers acceptance of new Internet services;
-- Rapidly changing technology and shifting demand requirements and Internet usage patterns;
-- Other risks and uncertainties, including the impact of competitive services, products and prices, the unsettled conditions in the Internet and other high-technology industries and the ability to attract and retain key personnel.
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