Looks like ValueWeb sold:
http://dc.internet.com/news/article/0,,2101_935531,00.html



Best Regards,

Jason R. Park

<<Please put all of what was here in your signature (see profile), up to four lines>>

Yep. It looks like their Chairman George F. Schmitt is buying it out.

Chris
Cobalt Racks

They were working on this for a long time (before the collapse of the DSL providers). Valueweb is still owned by the same company so to speak. eSpire is a bankrupt company, the only profitable part was Valueweb. Before they close the doors they wish to sell off VW so it doesn't go down with the ship. Makes sense. This is nothing like the Hostpro/Interland or the Alligance Telecom/Virtualis/Adgraphix deals. (sp?)

Is espire closing their doors? They're supposed to be bringing fiber into the collo facility I'm in (not that I'll be using them, but I was under the impression that they were still in business).

Valuweb was so big back in the day (which is not too long ago) they didnt fight to keep their market up. In fact I called them a few months back for a friend to see what their accounts were like, would you believe they werent even offering CGI-bins? No scripts were allowed....

eSpire is in Chapter 11 reorganization. So they are looking for to get out of bankruptcy etc. That does not mean they are not going to put fiber in some place or not. I am sure they have cut back on some construction though.

Best Regards,

Jason R. Park

<<Once again, please put all of what was here in your signature (see profile), up to four lines>>

Ugghhh... I hate pink sheet stocks, I can never get good solid quotes. Anyway, does anybody have a copy of the filing they did?

- Sqposter / Michael

I'm glad that they'll have new owners.

I believe that ValueWeb is one one of the web hosting providers hosting the most Klu Klux Klan web sites.

I love their tenacity to value the 1st amendment so much, but I prefer for an organization to have "anti-hate" policies. IMHO

So hopefully their policy will change under new ownership.

So hopefully their policy will change under new ownership.

They sold to the current owners. I doubt they will replce the current guys who have brought them success.

Actually the current Chairman has only submitted a bid that will now be evaluated, with other submitted bids, by the bankruptcy court.

Originally posted by jrpark
Actually the current Chairman has only submitted a bid that will now be evaluated, with other submitted bids, by the bankruptcy court.

Does anybody know what the value of that bid was?

-Sqposter / Michael

Actually the current Chairman has only submitted a bid that will now be evaluated, with other submitted bids, by the bankruptcy court.

Who's bid do you think they will take? Of course George Schmitt's. They do not want to make any changes at Valueweb. It is a great company and Mikaelsson does a good job running it. The guy is all over the hosting world.


Does anybody know what the value of that bid was?

The article says 15.5 million (really not sure that is the whole bid). If you look at the debt eSpire is in, I really don't see them recovering. Who knows?

Originally posted by UmBillyCord


Who's bid do you think they will take? Of course George Schmitt's. They do not want to make any changes at Valueweb. It is a great company and Mikaelsson does a good job running it. The guy is all over the hosting world.
The article says 15.5 million (really not sure that is the whole bid). If you look at the debt eSpire is in, I really don't see them recovering. Who knows?

Nope the 15.5 is a seperate number that sums up ( I think ) the entire cash layout, but does not cover the debit included on the deal. Seems like I'm going to have to get a copy of the filing.

thank's

-Sqposter / Michael