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BUSINESS
January 12, 1999
AppNet Systems Inc., a Bethesda electronic commerce service provider, said yesterday that it had bought Kodiak Group of Pittsfield, Mass.Kodiak Group employs 50; AppNet employs 550.Terms were not disclosed. Both companies are privately held."The acquisition of the Kodiak Group represents a key component of AppNet's long-term strategy for delivering comprehensive e-commerce services under one roof," said Ken S. Bajaj, chief executive and co-founder of AppNet, in a written statement.Kodiak's services include providing secure routing for electronic commerce transactions.
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BUSINESS
By Amanda J. Crawford and Amanda J. Crawford,SUN STAFF | June 21, 2000
Commerce One Inc. of Pleasanton, Calif., announced yesterday that it reached a definitive agreement to acquire AppNet Inc. of Bethesda in a stock purchase worth about $1.4 billion. The agreement came one day after Commerce One inadvertently released and then retracted an announcement about the deal. Officials from both companies said the mistake, which Commerce One attributed to "someone in the U.K." hastened the closing of the deal. Under the agreement, each share of AppNet will be traded for 0.8 of a Commerce One share.
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BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | July 29, 1998
A Chicago-based investment firm pledged $100 million yesterday to AppNet Systems Inc., a young Bethesda company that has visions of becoming dominant in the exploding electronic commerce industry."
BUSINESS
By Amanda J. Crawford and Amanda J. Crawford,SUN STAFF | June 20, 2000
In an embarrassing goof, Commerce One Inc. announced yesterday that it was buying AppNet Inc. of Bethesda for $1.38 billion in stock. The companies later said the announcement wasn't true - at least not yet. Trading of both companies was halted on the Nasdaq stock exchange yesterday morning after Commerce One's announcement of the deal. AppNet issued a denial and Commerce later retracted its statement. Commerce One in its initial announcement had included quotes praising the merger from Ken Bajaj, AppNet's chairman and chief executive.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | October 27, 1998
Taking the biggest step yet in its aggressive acquisition strategy, AppNet Systems Inc. will announce today the purchase of three high-technology firms that it hopes will help it become a major player in the burgeoning Internet commerce market.AppNet is buying Laurel-based software and network-design firm Century Computing Inc.; marketing and consulting company NMP Inc. of Falls Church, Va.; and Research & Planning Inc., a Cambridge, Mass., inventory-management firm.The three acquisitions are stock and cash deals worth more than $10 million each.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | September 1, 1998
Acquisition-hungry AppNet Systems Inc., a Bethesda-based electronic commerce service provider, said yesterday that it had bought Software Services Corp. of Ann Arbor, Mich.Software Services Corp., a profitable operation that employs 210 and had revenue of $20 million last year, will operate as a wholly owned subsidiary of AppNet, which employs about a dozen at its Bethesda headquarters and recently landed $100 million in venture funding.Financial details were not disclosed. Both companies are privately held.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | October 27, 1999
AppNet Inc. reported yesterday that its third-quarter revenue was up 67.6 percent over last year and announced that it planned to sell 4 million additional shares of common stock.The Bethesda electronic commerce company had revenue of $30.1 million in the quarter, which ended Sept. 30. In the third quarter of last year, the company took in $18 million.AppNet had a quarterly net loss of $21.3 million, or 68 cents per diluted share. Last year, the company's third-quarter loss was $20.7 million, or $1.09 per share.
BUSINESS
By Amanda J. Crawford and Amanda J. Crawford,SUN STAFF | June 21, 2000
Commerce One Inc. of Pleasanton, Calif., announced yesterday that it reached a definitive agreement to acquire AppNet Inc. of Bethesda in a stock purchase worth about $1.4 billion. The agreement came one day after Commerce One inadvertently released and then retracted an announcement about the deal. Officials from both companies said the mistake, which Commerce One attributed to "someone in the U.K." hastened the closing of the deal. Under the agreement, each share of AppNet will be traded for 0.8 of a Commerce One share.
BUSINESS
By Shanon D. Murray and Shanon D. Murray,SUN STAFF | January 5, 2000
AppNet Inc. said it signed a deal yesterday with MCI WorldCom Inc. to provide the telecommunications giant's global and national corporate customers with e-business services. The deal, which could be worth $30 million in the first 18 months, sent AppNet's stock soaring $7.25 to close at $52.25 a share. The Bethesda company sold shares for $12 during its initial public offering in June. The stock hit its high Oct. 25 when it sold for $67.25. MCI WorldCom closed yesterday at $49.50, down $2.4375.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | August 24, 1998
In just a few years' time, Ken Bajaj made a fortune helping companies, small and large, shift from outdated mainframe computer systems to the "client-server" systems that are ubiquitous today in American industry.So successful was Bethesda-based I-Net Inc., the company Bajaj and his wife founded to aid government agencies and companies with their computer system design needs, that it was bought two years ago this month by computer-services giant Wang Laboratories Inc. for $167 million.Now Bajaj, a former electrical engineering professor who also worked for Texas billionaire Ross Perot, hopes to replicate that stunning success with AppNet Systems Inc., his new Bethesda-based venture, which he's aimed to ride what he calls the "next paradigm shift" for business: The Internet.
BUSINESS
By Shanon D. Murray and Shanon D. Murray,SUN STAFF | January 5, 2000
AppNet Inc. said it signed a deal yesterday with MCI WorldCom Inc. to provide the telecommunications giant's global and national corporate customers with e-business services. The deal, which could be worth $30 million in the first 18 months, sent AppNet's stock soaring $7.25 to close at $52.25 a share. The Bethesda company sold shares for $12 during its initial public offering in June. The stock hit its high Oct. 25 when it sold for $67.25. MCI WorldCom closed yesterday at $49.50, down $2.4375.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | October 27, 1999
AppNet Inc. reported yesterday that its third-quarter revenue was up 67.6 percent over last year and announced that it planned to sell 4 million additional shares of common stock.The Bethesda electronic commerce company had revenue of $30.1 million in the quarter, which ended Sept. 30. In the third quarter of last year, the company took in $18 million.AppNet had a quarterly net loss of $21.3 million, or 68 cents per diluted share. Last year, the company's third-quarter loss was $20.7 million, or $1.09 per share.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | June 19, 1999
AppNet Systems Inc., a Bethesda company that is less than 2 years old but hopes to emerge a dominant player in the exploding electronic commerce industry, went public yesterday, raising $72 million.The company sold 6 million shares, or a 20 percent stake, at $12 each. The shares closed unchanged on the Nasdaq stock market, reflecting the recent cooling trend for Internet-related issues.The company, which helps companies set up and maintain computer systems that allow them to conduct business over the Internet, said in its filing for the initial public offering that it posted a $15 million loss on revenue of $17 million in 1998.
BUSINESS
January 12, 1999
AppNet Systems Inc., a Bethesda electronic commerce service provider, said yesterday that it had bought Kodiak Group of Pittsfield, Mass.Kodiak Group employs 50; AppNet employs 550.Terms were not disclosed. Both companies are privately held."The acquisition of the Kodiak Group represents a key component of AppNet's long-term strategy for delivering comprehensive e-commerce services under one roof," said Ken S. Bajaj, chief executive and co-founder of AppNet, in a written statement.Kodiak's services include providing secure routing for electronic commerce transactions.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | October 27, 1998
Taking the biggest step yet in its aggressive acquisition strategy, AppNet Systems Inc. will announce today the purchase of three high-technology firms that it hopes will help it become a major player in the burgeoning Internet commerce market.AppNet is buying Laurel-based software and network-design firm Century Computing Inc.; marketing and consulting company NMP Inc. of Falls Church, Va.; and Research & Planning Inc., a Cambridge, Mass., inventory-management firm.The three acquisitions are stock and cash deals worth more than $10 million each.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | September 1, 1998
Acquisition-hungry AppNet Systems Inc., a Bethesda-based electronic commerce service provider, said yesterday that it had bought Software Services Corp. of Ann Arbor, Mich.Software Services Corp., a profitable operation that employs 210 and had revenue of $20 million last year, will operate as a wholly owned subsidiary of AppNet, which employs about a dozen at its Bethesda headquarters and recently landed $100 million in venture funding.Financial details were not disclosed. Both companies are privately held.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | June 19, 1999
AppNet Systems Inc., a Bethesda company that is less than 2 years old but hopes to emerge a dominant player in the exploding electronic commerce industry, went public yesterday, raising $72 million.The company sold 6 million shares, or a 20 percent stake, at $12 each. The shares closed unchanged on the Nasdaq stock market, reflecting the recent cooling trend for Internet-related issues.The company, which helps companies set up and maintain computer systems that allow them to conduct business over the Internet, said in its filing for the initial public offering that it posted a $15 million loss on revenue of $17 million in 1998.
BUSINESS
By Amanda J. Crawford and Amanda J. Crawford,SUN STAFF | June 20, 2000
In an embarrassing goof, Commerce One Inc. announced yesterday that it was buying AppNet Inc. of Bethesda for $1.38 billion in stock. The companies later said the announcement wasn't true - at least not yet. Trading of both companies was halted on the Nasdaq stock exchange yesterday morning after Commerce One's announcement of the deal. AppNet issued a denial and Commerce later retracted its statement. Commerce One in its initial announcement had included quotes praising the merger from Ken Bajaj, AppNet's chairman and chief executive.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | August 24, 1998
In just a few years' time, Ken Bajaj made a fortune helping companies, small and large, shift from outdated mainframe computer systems to the "client-server" systems that are ubiquitous today in American industry.So successful was Bethesda-based I-Net Inc., the company Bajaj and his wife founded to aid government agencies and companies with their computer system design needs, that it was bought two years ago this month by computer-services giant Wang Laboratories Inc. for $167 million.Now Bajaj, a former electrical engineering professor who also worked for Texas billionaire Ross Perot, hopes to replicate that stunning success with AppNet Systems Inc., his new Bethesda-based venture, which he's aimed to ride what he calls the "next paradigm shift" for business: The Internet.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | July 29, 1998
A Chicago-based investment firm pledged $100 million yesterday to AppNet Systems Inc., a young Bethesda company that has visions of becoming dominant in the exploding electronic commerce industry."
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