In 1997, the company raised $1 billion in bond capital and undertook a series of rapid acquisitions, making 76 acquisitions between January 1998 and December 2000. Regional ISPs were a frequent purchase, and according to Congressional testimony by CEO Schrader, the company was by 1999 the largest independent facilities-based ISP in the United States, the second largest ISP in Japan, and had more than 500 points of presence around the world. In an attempt to generate more brand recognition, in 1999 PSINet committed $100 million for naming rights of the Baltimore Ravens' new stadium in Baltimore, Maryland. Following PSINet's insolvency, naming rights were renegotiated and the stadium is now called M&T Bank Stadium. The company's largest acquisition came in March 2000 with the purchase for more than $1.3 billion in stock of Houston-based Metamor Worldwide, a consulting services conglomerate it purchased in an effort to become a "single-source provider" for IT outsourcing services. The company also invested heavily in its fiber-optic network, anticipating strong demand, and planned in early 2000 to invest $1.4 billion over three years to build to expand its services and operations. Despite its rapid growth and significant position in the commercial Internet services market, the company was never profitable. A management team of inexperienced, young people was replaced in March 2000 by a more seasoned team of professional managers from companies like MCI, but its acquisition spree was too overwhelming for them to manage, in addition to the executives with a voice-based telecom background (circuit-switched) did not completely understand the nuances of a packet switched network. It was a popular stock with analysts during most of the dot-com boom because of its rapid revenue growth and aggressive expansion plans, but by 2000, PSINet was beginning to struggle. The company lost more than $5 billion in 2000 despite having close to doubled annual revenues to $995 million. Some analysts point to the Metamor acquisition as the turning point for the company, burdening it with the demands of integrating business operations while it was already struggling with significant debt from its earlier acquisitions, and facing a general slowdown in the computer services industry. However, the company had missed earnings estimates the year before, and was said to be looking to sell parts of its operation in late 1999. A portion of it was spun out into the independent company, Inter.net, www.inter.net, which had a presence in 14 countries and took over the consumer customer base. Many of the Inter.net subsidiaries have become part of other companies, such as green.ch in Switzerland, GMO in Japan, and Uniserve in Canada.