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Talk America to Acquire Network Telephone

Photonics.com
Oct 2005
NEW HOPE, Pa., Oct. 19 -- Communications company Talk America announced today that it will acquire privately held Network Telephone Corp. (NTC) of Pensalcola, Fla., a facilities-based communications provider serving business customers in the BellSouth region, for approximately $20 million in cash, including transaction costs.

Talk America's CEO and president, Ed Meyercord, says the merger will "secure our networking future in Atlanta and save us money there." Both Meyercord and NTC President and CEO Leo Cyr say combining the businesses makes financial sense, particularly in the Atlanta region, where NTC has 22 end offices and Talk America has more than 25,000 customers.

NTC has invested capital of over $240 million. The companies say NTC is expected to generate $60 million in revenue in 2006 and the transaction has been approved by both boards of directors. Both companies expect the merger to receive regulatory approval and close in January 2006.

NTC serves over 16,500 business customers throughout the eight states in the BellSouth region: Alabama, Louisiana, Mississippi, Florida, Georgia, Kentucky, North Carolina and Tennessee. The company employs more than 375 at its headquarters in Pensacola and at regional sales offices. Meyercord said he doesn't expect there to be a substantial downsizing of NTC staff as a result of the merger.

In July, Talk America finalized its purchase of LDMI Telecommunications Inc., a business communications provider in Michigan and Ohio, for $40 million in cash and shares of its common stock.

For more information, visit: www.talkamerica.com



GLOSSARY
photonics
The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
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