PSINet buys Spanish ISPs

NEWS PSINet has bought two Spanish Internet service providers (ISPs) in deals that will make it the second largest player in the Spanish market. Financial details of the acquisitions of privately held ABAFoRUM and Intercomputer were not disclosed. Intercomputer is a provider of electronic banking services, a market that PSINet is interested in exploring. Last week, PSINet CEO, Bill Schrader, said his company will continue to make international acquisitions, and promised that in the next three years the Internet will surpass analyst forecasts, and grow between 10 and 15 times.