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4net Software Divests Web Hosting Clients

September 27, 2002 -- (WEB HOST INDUSTRY REVIEW) -- Software company 4net Software said on Thursday that it has assigned the servicing of its remaining Web hosting clients to technology consulting firm The New England Computer Group Inc. (NECGnet.com).

4net announced the divestiture of its hosting clients as the company continues efforts to reduce its operating expenses and actively pursues merger and acquisition opportunities.

NECG, says 4net, specializes in designing, implementing and supporting automated systems on local and wide area networks, focusing on businesses in Connecticut, New York and New Jersey.

"We are very excited to provide 4net Software customers with web hosting, programming and quality support," says Frank Ballatore, President of NECG.

While 4net says it expects nominal revenues as a result of the relationship with NECG, the company says it expects to see significant savings in expenses and overhead. The company has implemented a number of cost-cutting measures designed to reduce operating expenses, such as the negotiation of a reduction of rent for its office space and the elimination of officer salaries effective October 1, 2002.

The company says it continues to pursue opportunities for mergers and acquisitions to increase share holder value and enhance liquidity.


 


 

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