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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): JULY 19, 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
Page 1 of 2 Pages
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ITEM 5. OTHER EVENTS
FirstWorld Communications, Inc., a Delaware corporation (the "Company"),
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announced on July 19, 1999 that it has acquired all of the outstanding capital
stock of InteleNet Communications, Inc., a California corporation ("Intelenet"),
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for approximately $16 million (less debt and deferred revenue) and approximately
875,000 shares of the Company's Series B Common Stock, par value of $.0001 per
share. 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 30, 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 July 19, 1999, issued by the Company announcing
the acquisition of InteleNet.
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Exhibit 99.1
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Media Contact: Joe Hodas Investor Contact: Seth Levine
FirstWorld FirstWorld
(303) 874-8010 (303) 874-8010
[email protected] [email protected]
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FIRSTWORLD ACQUIRES INTERNET AND DATA CENTER LEADER
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INTELENET COMMUNICATIONS
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Leading Internet Solutions and Telecommunications Company Takes Another Step
towards Solidifying Position in Data Center Market
DENVER, Colo., July 19, 1999 - FirstWorld Communications Inc., a Denver-based
Internet solutions and telecommunications company, today announced that it has
acquired InteleNet Communications, Inc.(www.intelenet.net), a leading provider
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of Internet and data center services headquartered in Irvine, CA, for
approximately $16 million, less certain debt and deferred revenue, plus 875,000
shares of FirstWorld common stock. The deal marks FirstWorld's third
California acquisition in the last seven months. The acquisition will expand
FirstWorld's ability to offer a broad range of business communications solutions
including Web hosting and design, collocation services, high-speed Internet
access via DSL (digital subscriber line), electronic commerce capabilities and
local and long distance telephony.
InteleNet was founded in 1994 and provides advanced connectivity and data
center services as well as network consulting to approximately 300 customers (as
of May 1999) including a variety of major multi-national companies such as
Unocal, Toshiba, Novell, Beanie Baby manufacturer Ty, Inc., the Chicago
Mercantile Exchange, Western Digital, Reuters International and Union Carbide
Composites. InteleNet expanded beyond the West Coast and into the Chicago market
in 1998 with the acquisition of Third Coast Networks, a leading Chicago area
hosting and collocation company. InteleNet has also deployed cable Internet
services for Time Warner Cable in eight major cities nationwide including San
Diego, Tampa Bay and Albany. In 1998, Cisco Systems selected InteleNet as one
of only 23 Cisco Gold Partners nationwide.
(more)
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Page Two
"By leveraging InteleNet's expertise in Web hosting and data warehousing
with FirstWorld's focus on the customer, we will be able to provide businesses
of all sizes with a broad range of advanced Internet solutions and a superior
level of customer service," said Sheldon S. Ohringer, FirstWorld's president and
chief executive officer. "InteleNet's advanced connectivity, data center and
Web hosting services are a compliment to FirstWorld's Internet and
telecommunications services."
"Over the past five years, InteleNet has experienced significant growth as
the Internet has rapidly expanded and the needs of businesses have become more
complex," said Mark Towfiq, president of InteleNet. "By joining FirstWorld, we
will enhance our ability to give businesses a reliable, high speed and secure
Internet presence. We are excited about leveraging our data center and Web
hosting expertise to establish FirstWorld as an Internet solutions leader."
About FirstWorld
FirstWorld Communications, Inc. headquartered in Denver, CO, is an Internet
solutions and telecommunications provider that offers 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.
