Summary
Internet America was an Internet service provider that operated in Texas. In 2015, it was acquired by JAB Broadband and folded into Rise Broadband.
| Founded | 1995 |
|---|---|
| Founder | Robert Maynard Jr. |
| Defunct | July 23, 2015 |
| Fate | Acquired by JAB Broadband |
| Headquarters | Houston, Texas |
History edit
The company was founded in 1995 by Robert Maynard Jr.
On December 11, 1998, the company became a public company via an initial public offering. Its stock rose 14.4% on its first day of trading.[1]
In February 1999, the company acquired Compunet for approximately $2 million.[2] The company also acquired CyberRamp.[3]
In July 1999, the company acquired NeoSoft for $7.3 million in cash.[4]
In August 1999, the company acquired INTX.Networking LLC from founder Sardar Biglari.[5]
In September 1999, the company acquired PDQ.net for stock worth $32 million. The combined company had 145,000 subscribers.[6]
In December 1999, during the dot-com bubble, the company's stock doubled in value in a single day with no specific news.[7]
On August 14, 2001, the company's shares were delisted from the NASDAQ.[8]
In 2003, the company reduced its headcount from 109 to 70 and also reduced its occupied office space.[9]
In November 2004, the company acquired My Linux ISP.[10]
In October 2005, Glen Blackmon was named president and chief operating officer of the company.[11]
In January 2006, the company acquired 2Fast Communications.[12]
In 2006, the company moved its headquarters from Dallas to Houston.[13]
On December 26, 2006, Glen Blackmon resigned.[14]
In November 2008, the company announced a merger with KeyOn Communications Holdings.[15] However, in February 2009, the merger was terminated.[16]
In June 2009, the company named Mark White, former Governor of Texas, as the special counsel for development of broadband networks in rural areas.[17]
In 2015, the company was acquired by JAB Broadband and folded into Rise Broadband.[18]
References edit
- ^ Bounds, Jeff; Cawley, Rusty (December 20, 1998). "Internet firms eye the IPO 'gravy train'". American City Business Journals.
- ^ "Internet America acquires CompuNet". American City Business Journals. February 1, 1999.
- ^ "Internet America acquires CyberRamp". American City Business Journals. February 19, 1999.
- ^ "Internet service provider acquires Neosoft". American City Business Journals. July 1, 1999.
- ^ Weiss, Sebastian (August 1, 1999). "Geek Internet provider buys out INTX.Net". American City Business Journals.
- ^ "Internet America acquires PDQ.net". American City Business Journals. September 13, 1999.
- ^ "Tuesday's after-hours trading". CNN. December 21, 1999.
- ^ "Internet America delisted from Nasdaq". American City Business Journals. August 14, 2001.
- ^ Azevedo, Mary Ann (October 30, 2005). "Internet America's Dallas presence dwindles". American City Business Journals.
- ^ "Internet America acquires My Linux ISP". American City Business Journals. November 2, 2004.
- ^ Azevedo, Mary Ann (October 20, 2005). "Internet America makes executive decision in Houston". American City Business Journals.
- ^ "Internet America agrees to buy San Antonio ISP". American City Business Journals. January 17, 2006.
- ^ "Internet America moving headquarters to Houston". American City Business Journals. January 12, 2006.
- ^ "Blackmon resigns as president of Internet America". American City Business Journals. December 26, 2006.
- ^ "Internet America to merge with KeyOn Communications". American City Business Journals. November 18, 2008.
- ^ "Internet America Terminates Proposed Merger with KeyOn Communications" (Press release). Business Wire. February 24, 2009.
- ^ "Internet America Names Former Texas Governor as Special Counsel on Rural Broadband Development" (Press release). Business Wire. June 30, 2009.
- ^ "Internet America, Inc. Has Been Acquired by JAB Broadband" (Press release). Gulfstar Group. July 23, 2015.