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Short Take: Verio and Ciber to form new ASP

Verio, a Web hosting and network services company, and Ciber, a software integration company, together will form a new application service provider (ASP). The new company will deliver business software services to mid-sized companies. The ASP market, in which businesses outsource many of their software and networking needs to a third-party company, is expected to be a lucrative market, analysts say. Ciber will own 42 percent of the new company, while Verio will own 39 percent and Centennial Funds will own 19 percent.

Verio, a Web hosting and network services company, and Ciber, a software integration company, together will form a new application service provider (ASP). The new company will deliver business software services to mid-sized companies. The ASP market, in which businesses outsource many of their software and networking needs to a third-party company, is expected to be a lucrative market, analysts say. Ciber will own 42 percent of the new company, while Verio will own 39 percent and Centennial Funds will own 19 percent.