Release Dates: Immediate
Contact: Ed Hansen
MindSpring Acquires FreedomNet Subscribers
ATLANTA (September 30, 1998) - MindSpring Enterprises, Inc. (Nasdaq: MSPG) today announced it has purchased the consumer dial-up Internet subscribers of FreedomNet, a division of Richmond, Virginia-based Nerds4Rent, Inc. MindSpring is a national Internet service provider. Financial terms of the agreement were not disclosed.
"MindSpring is proud that Nerds4Rent has chosen to transfer its FreedomNet dial-up subscribers to our service," said David Steed, acquisition specialist. "Our broad experience in assimilating acquired accounts means FreedomNet's members will find the move to MindSpring seamless."
In moving to MindSpring's award-winning service, each FreedomNet subscriber will receive the MindSpring Starter Kit, which includes MindSpring's user access interface and a complete suite of Internet software for Windows 95, Windows 3.x, or Macintosh; a comprehensive User's Guide; and access to MindSpring's 24-hour toll-free technical support service. Transition of the FreedomNet subscribers should be complete within 60 days.
Nerds4Rent will resell MindSpring's dial-up service and continue to provide commercial hosting and dedicated access services under the FreedomNet name and trademark.
"The decision to leave the consumer dial-up business was very difficult. Both FreedomNet and Nerds4Rent's commercial services are expanding quickly. It became apparent that it was in the best interest of our customers and corporate growth for us to focus on one business or the other," said H. Mark Saunders, chief executive officer of Nerds4Rent, Inc. "We searched for a company that would meet or exceed the level of service our subscribers have come to expect from FreedomNet. We are quite pleased for that company to be MindSpring."
About Nerds4Rent, Inc.
Nerds4Rent, Inc. is a PC hardware, software and network support provider ith offices in Richmond and Virginia Beach, Virginia; Laurel, Maryland; Atlanta, Georgia, and Greensboro and Raleigh, North Carolina. The company provides on-site computer, printer and hardware services to businesses for most major brands of computers and software, including Hewlett Packard, Gateway, Novell and Microsoft. Its dispatchers use cutting edge technology to provide quick response time to any size business. More information is available at http://www.nerds4rent.com/.
MindSpring is a leading Internet service provider focused on delivering outstanding service and support to its customers. By following its core values and beliefs, MindSpring is committed to doing an exceptional job of serving its customers, its employees, its owners and its community. MindSpring's dial-up subscribers can browse the World Wide Web, send electronic mail, participate in informative online chats and access over 20,000 newsgroups. MindSpring offers local Internet service in more than 375 locations throughout the United States. MindSpring is also a leading provider of Web Hosting services and domain registrations.
In November 1997, MindSpring earned CNET: The Computer Network's "Buy It" recommendation as the national ISP providing the best value. Ranking ISPs in December 1997, PC World named MindSpring the ISP with the best customer support, noting MindSpring "gives its users the moon," then presented MindSpring with its "World Class Award for Best ISP" in July 1998. Smart Money magazine called MindSpring "The Better Option" to AOL in February 1998, followed by a "Best Buy" recommendation from Smart Money Interactive in June 1998. MindSpring was given Home Office Computing's "Best Buy" for Web Hosting in its April 1998 issue. FamilyPC, in its July 1998 issue, named MindSpring's home page the "Best ISP Start Page." Upside Magazine said MindSpring "understands the value of service, community and brand in the cold world of the Net," in its February 1998 analysis of the top 150 technology companies in the United States.
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