FYI. From DVIN's website on press release announcements. (Interesting it is not on PR Newswire yet...)Another great move...
divine ANNOUNCES INTENT TO ACQUIRE BALANCE OF EQUITY OWNERSHIP IN NETUNLIMITED
CHICAGO and WINSTON-SALEM, N.C. � Feb. 27, 2002 � divine, inc., (Nasdaq: DVIN), a leading provider of solutions for the extended enterprise, today announced its intent to acquire the balance of the equity ownership in NetUnlimited, Inc., which specializes in computer network solutions and network infrastructure. Prior to this transaction, divine held an 80 percent stake in NetUnlimited. Terms of the all-stock transaction were not disclosed.
"We have worked closely with divine over the past two years and divine's purchase of the balance of equity in NetUnlimited was the next logical step in the relationship," said NetUnlimited President and Chief Executive Officer J. Evans Wroten. "This combination allows us to offer a much greater breadth of products and services to our existing customers and enables us to engage clients on a much larger scale. We are all very excited about what the future holds for our clients here in the Carolinas."
The acquisition of NetUnlimited expands divine's Technology Infrastructure Services solutions, which offers the technology and services to help companies plan and develop a reliable, secure, high-performance network and computing infrastructure to support their business operations and Web strategy implementation. NetUnlimited's Network Solutions division provides end-to-end, fully integrated solutions, including network design and integration, full procurement services, network security assessments and audits, hosting, and emergency service and disaster recovery. Through its network infrastructure planning and implementation business, NetUnlimited provides design and installation of voice and data cabling solutions, including the installation of fiber optic and enhanced copper cabling. In December 2001, NetUnlimited sold its Internet Service Provider (ISP) operations to Earthlink.
Wroten joins divine as vice president of the Network Solutions group within the divine Professional Services Organization, and will manage the Network Solutions consulting practice in the following offices in Winston-Salem and major Midwestern markets, including Chicago, Dallas, Indianapolis, Cincinnati, Cleveland, Detroit, Grand Rapids, Mich., and Milwaukee.