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EXHIBIT 00.1 EXHIBIT 99.1
IFX CORP.- A PREEMINENT PROVIDER OF LATIN AMERICAN INTERNET SERVICES - SECURES
$25 MILLION OF FUNDING FROM UBS CAPITAL AMERICAS TO FURTHER EXPAND ITS LEADING
GEOGRAPHIC PRESENCE AND CORPORATE PRODUCT OFFERING
Miami, fl (June 16, 2000) -- IFX Corporation ("IFX") (Nasdaq: FUTR;
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http://www.ifxcorp.com) - the company with the most extensive Latin American
pan-regional coverage for providing Internet-based products and services,
announced today it has secured a $25 million round of private equity financing
from UBS Capital Americas III, L.P. (UBS Capital Americas). This financing is
in addition to the $20 million secured by Tutopia.com, a subsidiary of IFX Corp.
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"We are extremely pleased to have secured this equity financing from such a
prestigious partner as UBS Capital Americas," said Mike Shalom, CEO of IFX Corp.
"This financing demonstrates UBS Capital Americas' belief in our business model
and our management team. In addition, we are pleased that both Charles Moore and
Mark Lama, principals with UBS Capital Americas, have agreed to join the IFX
Board of Directors. Both gentlemen bring years of experience in the
telecommunications and Latin American marketplace "
Mark Lama, Principal of UBS Capital Americas commented " We are excited about
our investment in IFX - they have created a top quality pan-regional network and
have proven the strength of their regional and in-country local management
teams. This financing enables them to continue building and upgrading the
network and to strengthen direct sales and marketing efforts in order to
maintain their leadership position in the Latin American internet marketplace."
Mike Shalom said "This financing will allow us to move at a fast speed in our
next stage of growth enhancing what we have established to date. Over the past
year, we have acquired 25 ISP operations and have implemented the latest Lucent,
Nortel, Cisco, Akamai and Sun equipment. In addition, we have integrated these
assets into a unified network - under our Unete subsidiaries - and have
implemented a real time billing system customized for each country's various
regulatory and tax requirements."
Commenting on the use of proceeds, Shalom added, "The market for corporate
internet infrastructure services in Latin America is expected to reach $15.5
billion in 2003, up from $4 billion in 1999. The UBS Capital Americas
investment helps to position IFX and its Unete brand to compete in this rapidly
growing market. The proceeds will be used in part to further the integration of
our information systems infrastructure, to increase marketing activities and
expand our direct sales force to service the small and medium enterprise market
in the region. Our market-leading geographic presence will expand further by
increasing the number of company-owned POPS in the region. We will also continue
to broaden our value-added service offerings to our growing corporate
customers."
IFX, under its Unete (www.unete.com) brand, is a leader in providing a broad
range of value-added Internet products and services to the small and medium
sized business marketplace in Latin America. Offerings include region-wide
wholesale and private label Internet access, dedicated fixed wireline and
wireless Internet access, unlimited dial-up roaming access to Unete's POPs
throughout the region, web design, web-hosting and co-location, dial-up LAN
services as well as VPN services, e-commerce solutions and full technical
support.
The Unete network provides pan Latin-American coverage in 15 countries including
Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, El Salvador, Guatemala,
Honduras, Mexico, Nicaragua, Panama, Uruguay Venezuela and the United States.
The closing of the financing is subject to customary conditions.
About IFX Corp.
IFX (www.ifxcorp.com) is a Miami-based Internet company that has created the
most extensive pan-regional platform for providing Internet-based products and
services throughout Latin America. IFX has subsidiaries in fifteen countries..
Under its Unete (www.unete.com) brand, IFX services small and medium sized
businesses and provides network services. Tutopia.com, the consumer focused
brand, is a leader in providing free pan-regional Internet access as well as
content.
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IFX also has holdings in other Latin American Internet businesses, namely Yupi
Internet Inc. ("Yupi") (http://www.yupi.com), Facilito.com Inc
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(http://www.facilito.com), and ePagos.com, Inc. ("ePagos")
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(http://www.ePagos.com).
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About UBS Capital Americas
UBS Capital Americas has in excess of $2.5 billion of private equity under
management. It currently manages UBS Capital Americas II, a $1.0 billion fund
dedicated to North America, and UBS Capital Americas III, a $500 million fund
dedicated to Latin America. Both funds focus on emerging growth companies in a
variety of industries including telecommunications, Internet and technology.
UBS Capital Americas is managed out of New York City, with offices in Buenos
Aires, Argentina and Sao Paolo, Brazil.
This news release may contain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995, including statements
related to the growth in IFX's Latin American network and IFX's expansion
strategy in the Latin American region. These statements reflect IFX's current
views with respect to future events and financial performance. Such forward-
looking statements are subject to certain risks and uncertainties that could
cause actual events or results to differ materially from those indicated from
such forward-looking statements. The potential risk factors include, among
others, IFX's limited operating history and experience in the free Internet
business, IFX's ability to attract significant additional financing and continue
to incur losses and negative cash flow from operations, and risks associated
with international expansion, especially in Latin America. Additional risk
factors that could affect IFX's financial results are set forth in IFX's reports
and documents filed from time to time with the Securities and Exchange
Commission.
Local telephone communication charges may apply in some jurisdictions even to
free Internet access service. This press release and prior releases are
available on IFX Corporation website at http://www.ifxcorp.com
SOURCE: IFX Corporation
