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EXHIBIT 99.1
DIGITAL ISLAND CLOSES ACQUISITON OF SOFTAWARE NETWORKS
SAN FRANCISCO, September 15, 2000 - Digital Island, Inc. (NASDAQ: ISLD), a
leading Global e-Business Delivery Network, announced today it has completed the
acquisition of SoftAware Networks, Inc. Based on Digital Island's closing price
on September 14, 2000, the transaction is valued at approximately $260 million.
The acquisition brings Digital Island's customer count to nearly 1,000
customers worldwide, and provides growth opportunities in the Los Angeles-based
media and entertainment market, as well as supporting the company's deployment
of Intel-based hosting solutions and build-out of the its global streaming
network.
"We are pleased to have rapidly completed this transaction and have now
started leveraging the SoftAware organization and customer base to make full use
of the additional resources available to us," said Ruann F. Ernst, chairman and
CEO of Digital Island.
Digital Island(R) is a leading Global e-Business Delivery Network using
hosting, content delivery, networking and application services to help companies
improve their customers' online experience by making Web applications run faster
and more reliably and scale globally, resulting in more successful e-Business
transactions. Digital Island is headquartered in San Francisco with a presence
in 26 countries.
Important Notice
Digital Island is a registered trademark of Digital Island, Inc. All other
trademarks are properties of their respective owners.
This release may contain forward-looking statements that are subject to risks
and uncertainties. Important factors which could cause actual results to differ
materially from those in the forward-looking statements, include but are not
limited to: the company's short operating history which makes it difficult to
predict its future results of operations; the company's history of operating
losses and expected future losses which could impede its ability to address the
risks and difficulties encountered by companies in new and rapidly
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evolving markets; the company's future operating results could fluctuate which
may cause volatility or a decline in the price of the company's stock; the
possibility that the company may not be able to price its services above the
overall cost of bandwidth causing its financial results to suffer; and other
factors detailed in the Company's filings with the Securities and Exchange
Commission.
Media contact at Digital Island:
Alf Abuhajleh
415/738-4555
[email protected]
Investor Relations contact at Digital Island:
Sue Pirri
415/738-4673
[email protected]
