SOURCE: NaviSite, Inc.

April 05, 2007 09:00 ET

NaviSite Honored With Best Performance in Public Markets Award at Massachusetts Network Communications Council Annual Ceremony

2006 Price Appreciation Led Technology Stocks

WALTHAM, MA, and ANDOVER, MA -- (MARKET WIRE) -- April 5, 2007 -- The Massachusetts Network Communications Council (MassNetComms), an industry association of leading telecommunications companies, and NaviSite, Inc., (NASDAQ: NAVI), a leading provider of application management, professional services, and secure content delivery solutions for enterprises, today announced that MassNetComms honored NaviSite with the Best Performance in Public Markets Award at its annual ceremony on April 4. In 2006, NaviSite registered the single greatest percentage increase in stock price by a New England network communications company. Its stock, which was priced at $1.25 per share at the end of 2005, rose to $6.97 at the end of 2006, marking a 458 percent one-year increase. The Massachusetts Network Communications Annual Awards Ceremony, held at the Hyatt Regency Cambridge, was attended by more than 400 industry leaders, and was emceed by Caleb Solomon, business editor of the Boston Globe.

"Continued ongoing growth in the demand for application services, hosting and content delivery services increased NaviSite's stock, as well as many other Massachusetts company stocks, during 2006," said E.Y. Snowden, chair of MassNetComms. "In 2006, investors recognized NaviSite's success in providing businesses with solutions that allow them to thrive."

"The Massachusetts Network Communications recognition further validates our efforts to provide our customers with a unique combination of application implementation, management, and content delivery services to provide full lifecycle support for today's industry leaders," said Arthur Becker, chief executive officer. "NaviSite will continue to provide scalable, flexible, secure IT services to ensure our customers have 24x7 access to the information they need to successfully run their businesses."

About NaviSite

NaviSite is a leading provider of application and technology services for companies who seek to accelerate their business IT performance. With over 950 customers in 14 data centers; offices in the US, UK and India; NaviSite is the partner of choice for many of the fastest growing companies for outsourcing enterprise application and related IT services to drive their IT Efficiency and Effectiveness. NaviSite delivers a unique combination of application implementation, management, and content delivery services to provide full lifecycle support for today's industry leaders. For more information, please visit www.navisite.com.

About the Massachusetts Network Communications Council

The Massachusetts Network Communications Council (MassNetComms) supports voice and data communication companies as they build successful and growing businesses in Massachusetts and New England. By providing advocacy to the state and federal government, education about key technical and business trends, and visibility with customers, partners, and investors, MassNetComms fosters entrepreneurship and growth in the telecom sector in Massachusetts. Through our successful workforce development activities, including a unique scholarship program for high school students in Massachusetts, we help ensure a vibrant and well-trained workforce in the region long-term.

The MassNetComms Annual Awards Ceremony enjoyed the support of the following sponsors: Charles River Ventures; Deutsche Bank; Ernst & Young; Mintz Levin; and Silicon Valley Bank.

Contact Information

  • Contact:
    Amy Goggins
    Marketing Manager
    Massachusetts Network Communications Council
    Email Contact

    Laura Carson
    Director, Marketing Communications
    NaviSite, Inc.
    Email Contact