RDG Capital Urges Internap To Explore Strategic Options, Incl. Sale Or Merger

(RTTNews) - RDG Capital Fund Management, a significant shareholder of Internap Corp. (INAP), announced that it strongly recommended the Board of the company retain a nationally recognized investment banking advisor to explore strategic alternatives to maximize shareholder value, including a potential sale or merger.

In a letter to the Company's Board of Directors, RDG Capital Fund said that, despite continuing operational improvements and recent share price appreciation, it believes Internap remains significantly undervalued compared to its estimated private market value of $16 - $19 per share.

Based on discussions with leading technology sector M&A investment bankers, RDG believes there are likely a number of potential strategic buyers who would be interested in acquiring Internap at a significant premium to its recent trading valuation.