Internet America

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Internet America
Fate Acquired by JAB Broadband
Founded 1995; 23 years ago (1995)
Founder Robert Maynard Jr.
Defunct July 23, 2015; 3 years ago (2015-07-23)
Headquarters Houston, Texas

Internet America was an internet service provider that operated in Texas. In 2015, it was acquired by JAB Broadband and folded into Rise Broadband.

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]

  1. ^ Bounds, Jeff; Cawley, Rusty (December 20, 1998). "Internet firms eye the IPO `gravy train'". American City Business Journals.
  2. ^ "Internet America acquires CompuNet". American City Business Journals. February 1, 1999.
  3. ^ "Internet America acquires CyberRamp". American City Business Journals. February 19, 1999.
  4. ^ "Internet service provider acquires Neosoft". American City Business Journals. July 1, 1999.
  5. ^ Weiss, Sebastian (August 1, 1999). "Geek Internet provider buys out INTX.Net". American City Business Journals.
  6. ^ "Internet America acquires PDQ.net". American City Business Journals. September 13, 1999.
  7. ^ "Tuesday's after-hours trading". CNNMoney. December 21, 1999.
  8. ^ "Internet America delisted from Nasdaq". American City Business Journals. August 14, 2001.
  9. ^ Azevedo, Mary Ann (October 30, 2005). "Internet America's Dallas presence dwindles". American City Business Journals.
  10. ^ "Internet America acquires My Linux ISP". American City Business Journals. November 2, 2004.
  11. ^ Azevedo, Mary Ann (October 20, 2005). "Internet America makes executive decision in Houston". American City Business Journals.
  12. ^ "Internet America agrees to buy San Antonio ISP". American City Business Journals. January 17, 2006.
  13. ^ "Internet America moving headquarters to Houston". American City Business Journals. January 12, 2006.
  14. ^ "Blackmon resigns as president of Internet America". American City Business Journals. December 26, 2006.
  15. ^ "Internet America to merge with KeyOn Communications". American City Business Journals. November 18, 2008.
  16. ^ "Internet America Terminates Proposed Merger with KeyOn Communications" (Press release). Business Wire. February 24, 2009.
  17. ^ "Internet America Names Former Texas Governor as Special Counsel on Rural Broadband Development" (Press release). Business Wire. June 30, 2009.
  18. ^ "Internet America, Inc. Has Been Acquired by JAB Broadband" (Press release). Gulfstar Group. July 23, 2015.