Feeds

PSINet buys US ecommerce outfit in $720m deal

Now it has plans to sell 'ecommerce in a box'

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

PSINet is to buy Transfer Network Services (TNS), the ecommerce and data processing specialists, in a cash and stock deal worth an estimated $720 million. The move is widely regarded as being a shot across the bows of other ecommerce players, such as IBM, UUNet and AT&T. According to reports on Newsbytes, Gary Arlen, president of research firm Arlen Communications, said the buy would boost PSINet's position on the world stage. "They've carved out a place for themselves in the business enterprise sector," he said. "Now they're doing an awful lot to brand themselves." TNS processes about 20 million transactions per day. It provides ecommerce services and secure data communications to the financial sector. On completion, PSINet plans to sell an 'ecommerce in a box' package to TNS's 2 million small and medium sized business customers, according to PSINet's CFO, Edward Postal. PSINet will pay TNSI $350 million in stock and 7.8 million common shares, the remainder will be paid in cash. PSINet expects to gain around $170 million annually thanks to cost savings and increased revenue through the purchase. The two companies plan to finalise the deal by the end of this year. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.