ZooLink Corporation (www.zoolink.com), a provider of web hosting and data center services, announced on May 12, 2004, that it has signed an agreement to sell its customer base and assets to Universco Broadband Solutions (www.universco.com), an Internet service provider. According to ZooLink, the money from the deal will be used to cover the debts it owes to its creditors. Financial parameters of the deal were not revealed.
i3DataCenters (www.i3datacenters.com), the remaining subsidiary of ZooLink, will keep its business relationship with Universco, after the deal is closed. Both companies will be reselling each other’s products to their customers.
West McDonald, president of ZooLink Corporation, said that Universco’s decision to work with i3DataCenters combined with the Offer to Purchase of ZooLink Communications Ltd. customer base was an exciting step in the company’s restructuring efforts. He stated that ZooLink Communications would now have the funds necessary to settle its obligations with creditors as outlined in the Proposal to Creditors. McDonald noted that Universco Broadband Solutions was a leader in high-speed connectivity solutions and ZooLink wanted its customers to know that they were in great hands. He said that this was great news for i3DataCenters’ customers for the company’s entire focus would now be on serving them better than ever before, with new and more robust data center offerings. McDonald added that it was a tremendous opportunity for ZooLink’s customers as both company’s networks were essentially similar and would not require much effort to integrate.
