Verio Inc. Thursday reached a deal with America Online Inc. to become the online service's exclusive business Web hosting partner.
Verio will host business Web sites on AOL, CompuServe, AOL.com and AOL's Digital City guides.
AOL will receive guaranteed payments of at least $42.5 million and will also receive an unspecified portion of future revenues. Verio will also receive advertising and promotion through a co-branded Web site that will promote Verio's Web hosting and e-commerce solutions.
As part of the agreement, about 7,000 AOL PrimeHost and CompuServe BusinessWeb customers will have their sites hosted by Verio. (VRIO)
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"Verio has established itself as one of the top business Web hosting companies in the world. Teaming with Verio enables us to offer our existing PrimeHost and BusinessWeb customers new services as well as the ability to offer other small and mid-size companies comprehensive Web hosting and enhanced services...," said Bob Pittman, AOL's president and chief operating officer.
Justin Jaschke, Verio's chief executive officer, said the partnership will expand the services both companies can offer to businesses.
"This new partnership vastly expands Verio's brand name recognition throughout its target market and underscores the position we have established as the world's leading provider of Web services for small and mid-sized businesses," he said.
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