UPA (Utanian Press Agency)
Release: January 19, 301 AP.

Angorit announces plans for Jagged Blue

Managing Director of the Savaj Netopik corporation, James Angorit, announced this afternoon his plans for Utania's third largest ISP which his company purchased today.

Savaj Netopik earlier today announced the complete buy-out of management shares in the 112-person internet company known as Jagged Blue, the third largest ISP in Utania, having 80,000 internet customers. The company had been experiencing severe problems in upgrading its service provision technology since an explosion in its customer base, said Mr Angorit.

In short, he explained, the company has technology that can handle 64,000 customers well, 80,000 capably, but cannot grow without "substantial capital investment", something the management could not achieve. Mr Angorit said he wanted to "capitalise on the intellectual and cultural" assets of the company, while making the multi-million pund investment the company required. He believed the company could outrun the leading ISPs, and was dedicated to "expand, not contract" the work force, saying that all 112 were welcome to stay for at least another year.

He said his plans were to seize a "significant foothold" in the internet and technology industry through his purchase in Jagged Blue, and would invest in the order of Û80 million over the next year to offset currency losses. Almost all telecommunications and computing technology must be imported from overseas while the Utanian currency is currently worth a third of the Crown (Christianan).

The country's largest and second-largest ISP's are Arrow Internet Services, started and operated by entrepreneur David Kojans, and BTM-Interlink, by the Nystonia-based Business Thinking Machines (BTM) corporation. There is an estimated 600,000 individuals and corporate users of internet services in Utania to date, but it is growing at almost 50% p.a.

©UPA, 301 AP.

©Mike Ham, 2001. All rights reserved. No reproduction without, at least, tacit approval. ;-)