IWEB GROUP INC AQUIRES PARANGON INTERNET
Montreal, October 27, 2004 — iWeb Group Inc (iWeb) announced today that it has acquired all of the outstanding shares of 9080-8206 Quebec Inc. (Parangon Internet), a private company in the business of colocation and dedicated server rentals. iWeb acquired Parangon Internet on a cash basis.
“This acquisition will consolidate our server network in Montreal,” stated Éric Chouinard, President and Chief Executive Officer of iWeb. “Customers from both companies will now benefit from a more significant service point. Furthermore, Parangon Internet customers will enjoy a wider range of services at very competitive prices”, he added.
About iWeb Group Inc.
Founded in Montreal in 1996, iWeb is today one of the most important Canadian companies in terms of hosted domains. The Company offers a full line of advanced web hosting solutions in English, French and Spanish. With the acquisition of Parangon Internet, iWeb has over 9,000 customers in 48 countries around the world and generates recurring monthly revenues of over $210,000. Its fiscal year is from October 1 to September 30.
iWeb Group Inc. is listed on the TSX Venture Exchange under the ticker symbol IWB.
For more information, visit the Company’s website at
iweb.ca
"The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release."
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