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EXHIBIT 99.1
Company Press Release
IFX Corp. Closes $25 Million Investment from UBS Capital Americas
MIAMI--July 19, 2000--IFX Corporation (Nasdaq:FUTR - news), one of the fastest
growing Internet service providers in Latin America, announced today that it has
closed on $25 million in private equity financing from UBS Capital Americas III,
L.P. This funding is in addition to the planned $20 million investment to be led
by UBS in Tutopia.com, Inc., IFX's free Internet access subsidiary.
The proceeds will be used to further expand IFX's network, which now extends
across 14 countries, to increase the products and services offered by the
company, and to expand the IFX sales force to enhance assistance to small and
medium businesses across the region. With its $25 million investment, UBS
purchased Series A preferred stock issued by IFX. Additionally, two principals
of UBS Capital Americas, Charles Moore and Mark Lama, have joined the IFX Board
of Directors.
"We are pleased to announce that we have cleared all the regulatory and closing
issues and that UBS Capital Americas has now fully funded their $25 million
investment" said Mike Shalom, CEO of IFX Corp. "This financing demonstrates UBS
Capital Americas' belief in our business model and our management team and will
allow us to move at a fast speed in our next stage of growth, enhancing what we
have established to date."
IFX (Nasdaq:FUTR - news; http://www.ifxcorp.com) started its Internet access
business in November 1998 and since then has acquired 25 local and regional
Internet service providers, making IFX one of the fastest-growing Internet
service providers in Latin America.
Under its Unete (http://www.unete.com) brand, IFX provides a broad range of
Internet products and services to small and medium-sized businesses in Latin
America. The company offers 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 14 countries,
including Argentina, Bolivia, Brazil, Chile, Colombia, El Salvador, Guatemala,
Honduras, Mexico, Nicaragua, Panama, Uruguay Venezuela and the United States.
About IFX Corp.
IFX (http://www.ifxcorp.com) is a Miami-based Internet company that has created
one of the most extensive pan-regional platforms for providing Internet-based
products and services throughout Latin America. IFX has subsidiaries in fourteen
countries. Under its Unete (http://www.unete.com) brand, IFX services small and
medium sized businesses and provides network services.
Tutopia.com (http://www.tutopia.com), is the consumer-focused subsidiary of IFX
and 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
(http://www.facilito.com), and ePagos.com, Inc. ("ePagos")
(http://www.ePagos.com).
About UBS Capital
UBS Capital 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 is
managed out of New York City, with offices in Buenos Aires, Argentina and Sao
Paulo, 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
Contact:
Hill and Knowlton, Fort Lauderdale, Fla.
Jack Gutt, 954/713-2813
[email protected]
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or
IFX Corp
Barrie Moskowitz, 305/512-1100
[email protected]
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