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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): JUNE 23, 1999
FIRSTWORLD COMMUNICATIONS, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-24953 33-0521976
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
7100 E. BELLEVIEW AVENUE, SUITE 210,
GREENWOOD VILLAGE, COLORADO 80111
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 874-8010
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ITEM 5. OTHER EVENTS
FirstWorld Communications, Inc., a Delaware corporation (the "Company"),
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announced on June 23, 1999 that it has acquired all of the outstanding capital
stock of inQuo, a Nevada corporation ("inQuo"), for approximately $1.15 million.
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A copy of the press release of the Company is attached hereto as Exhibit 99.1
and incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Date: July 8, 1999 FIRSTWORLD COMMUNICATIONS, INC.
By: /s/ Sheldon S. Ohringer
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Sheldon S. Ohringer
Chief Executive Officer and President
EXHIBITS INDEX
Exhibit Description
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99.1 Press Release, dated June 23, 1999, issued by the Company announcing
the acquisition of inQuo.
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Exhibit 99.1
Media Contact: Scott Chase Investor Contact: Seth Levine
FirstWorld FirstWorld
(303) 874-2443 (303) 874-8010
[email protected] [email protected]
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FirstWorld EXPANDS INTO UTAH, ACQUIRING SALT LAKE CITY ISP INQUO
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Utah Deal Marks Third Acquisition in Three Weeks by FirstWorld
DENVER (June 23, 1999) - FirstWorld Communications Inc., a Denver-based
Internet solutions and telecommunications company, announced that it has agreed
to acquire inQuo (www.inquo.com), an independent Internet service provider in
the Salt Lake City area, for $1.15 million, less debt and deferred revenue. The
deal marks FirstWorld's entry into Utah, where it plans to offer a full range of
business communications solutions including high-speed access via DSL (digital
subscriber line), web design and hosting, electronic commerce support, and local
and long distance telephony.
inQuo is a leading provider of dedicated Internet access to businesses in
Salt Lake. The Utah acquisition is the third Internet solutions company to be
purchased by FirstWorld in the last three weeks. During June, FirstWorld has
expanded into Texas and Colorado with the acquisitions of Hypercon, a leading
ISP based in Houston and Internet Express, one of Colorado's largest independent
ISPs.
"With FirstWorld and inQuo joining forces in Salt Lake City, small and
medium sized businesses will receive a superior level of customer service and
gain access to complete end-to-end Internet solutions that will help the
business thrive," said Sheldon S. Ohringer, FirstWorld's president and chief
executive officer. "With these solutions, business owners will be able to run
their companies more efficiently and reach an entirely new customer base."
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"By combining inQuo with FirstWorld, we will heighten our ability to offer
end-to-end solutions to businesses," said Pete Kruckenberg, president of inQuo.
"We look forward to leveraging our Internet expertise and knowledge of Salt Lake
City to help establish FirstWorld as a leading provider of Internet solutions in
Utah."
About FirstWorld
FirstWorld Communications, Inc. headquartered in Denver, CO, is an Internet
solutions and telecommunications provider that delivers a complete range of
Internet services, web integration and consulting and telephony solutions to
small and medium sized businesses. For more information, visit the company's
Web site at www.firstworld.com.
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THIS PRESS RELEASE MAY CONTAIN "FORWARD-LOOKING STATEMENTS" WITHIN THE MEANING
OF THE SECURITIES LAWS. ALTHOUGH THE COMPANY BELIEVES THAT THE EXPECTATIONS
REFLECTED IN SUCH FORWARD-LOOKING STATEMENTS ARE REASONABLE, IT CAN GIVE NO
ASSURANCE THAT SUCH EXPECTATIONS WILL PROVE TO HAVE BEEN CORRECT. ACTUAL RESULTS
WILL DIFFER AND SUCH DIFFERENCES MAY BE MATERIAL.
