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Metromedia Fiber focuses its sites

Tue, 10/10/2000 - 8:00pm
Staff

Metromedia Fiber Network acquires SiteSmith

Metromedia Fiber Network (MFN) has agreed to buy SiteSmith, an Internet infrastructure management services company, in an all-stock deal valued at close to $1.36 billion.

Under the terms of the deal, SiteSmith shareholders will receive between 55 million and 62.5 million shares of Metromedia, depending on the share price of Metromedia stock over a period of time prior to the closing.

With this acquisition, MFN will provide its customers with global end-to-end optical Internet infrastructure outsourcing. SiteSmith provides its customers with Internet infrastructure management that includes design and architecture, hardware and software installation, co-location and network connectivity, and ongoing management.

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