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$1.5 million deal averts a service shutdown for affected AtWork customers
February 15, 2002
VANCOUVER, Wash. -- New Edge Networks, a national enhanced data and broadband communications service provider, today announced that a federal Bankruptcy Court judge has approved the company's purchase of business customers and certain broadband access assets of AtWork, the commercial access division of bankrupt AtHome Corp., (OTCBB:ATHMQ). Judge Thomas E. Carlson of the U. S. Bankruptcy Court for the Northern District of California in San Francisco approved the purchase, which averts a service shutdown for most AtWork customers. Under terms of the purchase agreement, New Edge Networks will assume most existing AtWork customer contracts and ownership of certain customer and network equipment necessary for continuing uninterrupted high-speed Internet access. New Edge Networks paid $1.5 million to acquire all affected AtWork customers, related premises equipment, and network routers that are installed in 33 Internet hub locations in major cities around the country. The purchase represents about $18 million in new annual revenue for New Edge Networks.New Edge Networks
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