ISPs to Finish Merger Today

By Karen Kaplan

Feb. 4, 2000 12 AM PT

Pasadena-based EarthLink Network and MindSpring Enterprises of Atlanta are scheduled to complete their merger today, becoming an Internet service provider with about 3 million customers and annualized sales of $570 million. Both boards are expected to approve the merger, which was announced in September and will create one of the largest ISPs in the country. Shares of both companies rose in Nasdaq trading Thursday, with EarthLink gaining $2.44 to close at $47.69 and MindSpring jumping $1.50 to close at $29.50. Each MindSpring share will be exchanged on a one-for-one basis with shares of the new company, which will be based in Atlanta and use the EarthLink name. EarthLink shareholders will receive 1.615 shares of the new company for each of their existing shares. EarthLink Chief Executive Garry Betty will remain as CEO of the new company and will continue to work out of Pasadena, along with 1,500 of EarthLink’s 2,200 employees.

Technology and the Internet

Karen Kaplan

Karen Kaplan covers science and medical research for the Los Angeles Times. She has been a member of the science team since 2005, including 13 years as an editor. Her first decade at The Times was spent covering technology in the Business section as both a reporter and editor. She grew up in San Diego and is a graduate of MIT and Columbia University.

ISPs to Finish Merger Today

More From the Los Angeles Times