Digex definition

Digex means Digex, Inc., a Delaware Corporation with its headquarters in Beltsville,
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Digex or the "Company") was incorporated on April 26, 1999, under the laws of the State of Delaware. The Company's business was operated as the Web site hosting unit of Intermedia Communications, Inc. ("Intermedia" or "the Parent") since its acquisition by Intermedia on July 7, 1997. On that date, Intermedia acquired Business Internet, Inc. (previously known as DIGEX, Incorporated), including the Web site hosting unit (the "Predecessor"), in a business combination accounted for as a purchase. The Web site hosting unit presented in the accompanying financial statements had no legal status or existence prior to the incorporation of the Company on April 26, 1999. Prior to April 30, 1999, the Registrant had no assets or liabilities. See also Note 11, which discloses the contribution of assets on April 30, 1999 by Business Internet, Inc. to the Registrant. The Company's operations began in January 1996 to provide managed Web hosting services, principally to Fortune 2000 companies. The Company's services include implementing and maintaining secure, scaleable, high-performance Web sites on the Internet 24 hours a day. In addition, the Company provides a comprehensive suite of Web management services, including business process solutions and value-added testing services directed toward improving its customers' overall Internet performance. BASIS OF PRESENTATION The accompanying financial statements of the Company reflect the carved-out operations and financial position of the Web site hosting unit of Intermedia for all periods between July 7, 1997 and April 26, 1999. The accompanying financial statements of the Predecessor reflect its operations and financial position from January 1, 1997 to July 6, 1997. As more fully discussed in Note 2, "Related Party Transactions and Corporate Allocations," the financial statements for all periods presented include allocations of network costs and corporate expenses. In addition, for financial reporting purposes, the equity activity of the Company, prior to its incorporation, and the Predecessor has been accumulated into a single disclosure caption entitled "Owner's Net Investment." SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
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Digex means Digex, Inc., a Delaware Corporation with its headquarters in Beltsville, Maryland, its successors and assigns, and its subsidiaries, divisions, groups, affiliates, partnerships
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Examples of Digex in a sentence

  • In July, 1997, Intermedia bought Digex for approximately $150 million cash, and thereafter sold Digex stock to the investing public in July, 1999 and again in February, 2000.

  • He elected to have his appeal heard under the Board’s small claims procedures.

  • Shull is a Director of Digex and the President and Chief Executive Officer of Digex.

  • Manning is a Director of Digex and the Chief Financial Officer of Intermedia.

  • To rescue Intermedia from its financial woes, however, defendants refused to sell Digex alone and instead insisted that buyers acquire Intermedia instead.

  • A Participant's Account attributable to his or her own salary reduction contributions, voluntary contributions, and rollover contributions shall be fully vested at all times.

  • The only reason for WorldCom to do the Merger at all is to acquire Digex.

  • On September 5, 2000, Intermedia and WorldCom jointly announced that the Boards of Intermedia, WorldCom and Digex had each approved a definitive merger agreement whereby WorldCom would acquire all of the outstanding shares of Intermedia common stock for $39 of WorldCom common stock, subject to a collar (the "Merger").

  • Intermedia currently owns approximately 62.0% of Digex's outstanding shares and controls approximately 94.2% of the voting interest in Digex.

  • Specifically, Digex announced that second quarter 2000 sales more than tripled, and Digex raised its 2000 sales projections by 10% to $165 million for 2000 and $300 million for 2001, compared to less than $60 million in 1999 sales.


More Definitions of Digex

Digex means Digex, Inc., aDelaware Corporation with its headquarters in Beltsville, Maryland, its successors and assigns, and its subsidiaries, divisions, groups, affiliates, partnerships and joint ventures, and their directors, officers, managers, agents and employees.
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Digex means Digex, Incorporated, a Delaware corporation, and all of its Subsidiaries.
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Digex means Digex, Incorporated, its directors, officers, agents, attorneys and accountants.
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Digex. Digex Limited Guaranty," "Documentation Agent," "Fourth Amendment," "Fourth Amendment Date," "Maximum Digex Liability," "Merger," "Merger Agreement," "Merger Termination Event," "WorldCom," and "WorldCom Subordinated Debt" shall be alphabetically inserted in Section 1.1 to read as follows:
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Digex means Digex, Incorporated, a Delaware corporation.
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Related to Digex

  • SBI means State Bank of India (Client) having its Corporate Centre at Madame Cama Road, Nariman Point, Mumbai- 400 021 and its representative Local Head Offices/Administrative Offices/Regional Business Offices/Branches at various places across India and includes the client’s representatives, successors and assigns.

  • Alliance means the Public Service Alliance of Canada;

  • AMFI means Association of Mutual Funds in India.

  • BCI means the Bureau of Criminal Identification, and is the designated state agency of the Division of Criminal Investigation and Technical Services Division, within the Department of Public Safety, responsible to maintain criminal records in the State of Utah.

  • SBS means the New York City Department of Small Business Services.

  • CTS means the market rules that allow transactions to be scheduled based on a bidder’s willingness to purchase energy from a source in either the NYISO or PJM Control Area and sell it at a sink in the other Control Area if the forecasted price at the sink minus the forecasted price at the corresponding source is greater than or equal to the dollar value specified in the bid.

  • biofuels means liquid or gaseous fuel for transport produced from biomass;

  • Forest means an area of land defined by the minimum values for area size, tree crown cover or an equivalent stocking level, and potential tree height at maturity at the place of growth of the trees as specified for each Member State in Annex II. It includes areas with trees, including groups of growing, young, natural trees, or plantations that have yet to reach the minimum values for tree crown cover or an equivalent stocking level or minimum tree height as specified in Annex II, including any area that normally forms part of the forest area but on which there are temporarily no trees as a result of human intervention, such as harvesting, or as a result of natural causes, but which area can be expected to revert to forest;

  • MSC means Xxxxxx Shopping Centre Pty. Limited, its successors and permitted assigns;

  • ATS means an alternative trading system, as defined in Rule 300(a)(1) of Regulation ATS under the Exchange Act.

  • IPS means Integrated Payment Systems Inc., a Delaware corporation and its successors.

  • ECO ECO Resources, Inc., a Texas corporation. ---

  • Edge of any water means the outer edge of the water's bankfull width or, where applicable, the outer edge of the associated channel migration zone.

  • CSC means the Civil Service Commission of the City and County of San Francisco.

  • BMC has the meaning assigned thereto in the Recitals hereof.

  • ESMP or “Environmental and Social Management Plan” means with respect to each activity under the Project pursuant to which the ESMF requires it, a plan, such plan to be prepared by the Recipient pursuant to Section I.D.1 of Schedule 2 to this Agreement, in accordance with the provisions of the ESMF and approved by the Association, setting out measures to mitigate any adverse environmental and social impacts arising from such activities; and “ESMPs” means more than one ESMP.

  • SADC means the Southern African Development Community;