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SOVERNET NewsLetter July 27, 1999 SoVerNet has some important news that we believe will be of interest to you. Although certain aspects of the news are a matter of public record we are providing this internal announcement as a courtesy to our customers. SoVerNet's ownership is changing. SoVerNet's stock, closely held since our inception, is being traded for cash and stock in a publicly held company, Frontline Communications Corporation , located in New York's Hudson Valley.
SoVerNet's management, staff and operations will remain in place. Tony Elliott and Erik Leo, who have been acting in the dual roles of owner/manager and owner/technician, will be relinquishing the majority of their ownership roles and concentrating on their management and technology roles. The new owners are also in the "Internet Business," but with an operation that is both geographically complementary (i.e., no overlapping service areas) and a business focus (end-to-end solutions for small business) that melds well with SoVerNet's . The new owners bring many important new elements to the table, including an infusion of capital, legal expertise, an excellence in customer service and exciting new access and commerce options. Not to mention an enthusiasm for ownership and ambition for growth. In summary, this is an opportunity for growth and sustainability that is consistent with SoVerNet's long-term goals, but simply wasn't available to us as a small, closely-held company. SoVerNet offers an established presence in Vermont based on a reliable, robust network and services that have evolved significantly to meet the unique needs of our customers. In other words: its a "good fit." While it is inevitable that the change in ownership implies changes in the business, it is a fact that there won't be any changes that impact customers negatively. For example, your email address and access numbers will stay the same. SoVerNet fully expects that all changes will be positive, including a broader range of service and access options, expanded local calling areas and enhanced customer-service policies. On a personal note, the truth is that we never dreamed SoVerNet would become as large and successful as it has. Our goal has always been to provide excellent service at a reasonable price that meets the growing and changing needs of our customers. Our own growth is a testament to our ability to meet that goal. This move ensures that we continue to do so. Finally, we'd like to convey a heartfelt "Thank You" to all our customers for all that we've shared. Your questions, compliments, complaints and suggestions have shaped what we are as much as any "vision" on our part.If you have any questions regarding this announcement, please feel free to contact us, or visit the website we've constructed anticipating questions that many of you may have or check out the press release concerning our new venture. Warm regards, |
