Internap Completes VitalStream Deal
February 21st, 2007 By: Rich Miller
Internap Network Services (INAP) said today that its acquisition of VitalStream has been completed, with shareholders from both companies approving the $217 million deal. The acquisition boosts Internap’s position in the fast-growing world of Internet video and streaming media.
“The completion of the transaction to acquire VitalStream marks yet another milestone in our disciplined approach to transform Internap and return value through both strategic and organic initiatives,” said James P. DeBlasio, chief executive officer of Internap. “By replicating the VitalStream platform, we can extend our global reach and acquire new customers, particularly those that need streaming media services. Furthermore, Internap is positioned to offer our existing customers a more robust, integrated solution that no other company can.”
Internap now has approximately 450 employees, including a direct sales team of 135 with experience re-selling CDN and streaming media services.