Internet America

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

Internet America
FateAcquired by JAB Broadband
Founded1995 (1995)
FounderRobert Maynard Jr.
DefunctJuly 23, 2015 (2015-07-23)
HeadquartersHouston, Texas

History

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]

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References
  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". CNN. 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.
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