Hawaiian Telcom Completes Acquisition of Wavecom Solutions Corporation
2013年1月1日 - 5:00AM
Hawaiian Telcom Holdco, Inc. (Nasdaq:HCOM), Hawaii's leader in
integrated communications solutions, today announced that its
Hawaiian Telcom, Inc. subsidiary has completed the acquisition of
all of the capital stock of Wavecom Solutions Corporation (Wavecom
Solutions), an information and communications technology company
and facilities-based competitive local exchange carrier
headquartered in Honolulu. Wavecom Solutions provides voice, data
and converged services to small and medium-sized business and
carrier customers through a six-island subsea and terrestrial fiber
network.
"We are pleased that the acquisition has closed and we can
welcome Wavecom Solutions' employees and loyal customers into our
Hawaiian Telcom family," stated Eric K. Yeaman, President and CEO
of Hawaiian Telcom. "By adding Wavecom Solutions' fiber network and
business capabilities to our technology and operations, we'll
enhance our ability to serve growing customer demand for high speed
Internet bandwidth and advanced communications."
With the acquisition complete and as integration of Wavecom
Solutions' fiber network occurs, Hawaiian Telcom's network
capabilities will be enhanced through augmentation of fiber
capacity and diversity statewide. The company will be better
positioned to deliver next generation, end-to-end solutions to
customers throughout Hawaii and drive long-term value for
shareholders.
Hawaiian Telcom first announced the definitive purchase
agreement to acquire Wavecom Solutions on July 12, 2012. Approvals
from the Federal Communications Commission and Hawaii Public
Utilities Commission were obtained on December 28, 2012. The stock
purchase transaction closed today (Dec. 31, 2012) at a purchase
price of approximately $9.6 million (subject to adjustment based on
final working capital calculations), paid with existing liquidity
using cash on hand. It is estimated that the transaction will
generate approximately $4.5 million of annual unlevered free cash
flow upon completion of integration activities as a result of net
incremental revenues and EBITDA of approximately $7 million and
$3.5 million, respectively, as well as network related capital
expenditure synergies.
Forward-Looking Statements
In addition to historical information, this release includes
certain statements that constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. In particular, any statement, projection or estimate that
includes or references the words "believes", "anticipates",
"intends", "expects", or any similar expression falls within the
safe harbor of forward-looking statements contained in the Reform
Act. Actual results or outcomes may differ materially from those
indicated or suggested by any such forward-looking statement for a
variety of reasons. More information on potential risks and
uncertainties is available in recent filings with the Securities
and Exchange Commission, including Hawaiian Telcom's 2011 Annual
Report on Form 10-K. The information contained in this release is
as of December 31, 2012. It is anticipated that subsequent events
and developments may cause forward-looking statements to
change.
About Hawaiian Telcom
Hawaiian Telcom Holdco, Inc., headquartered in Honolulu, is
Hawaii's leading provider of integrated communications solutions
for business and residential customers. With roots in Hawaii
beginning in 1883, the Company offers a full range of services
including voice, video, Internet, data, wireless, and advanced
communication and network services supported by the reach and
reliability of its network and Hawaii's only 24/7 state-of-the-art
network operations center. With employees statewide sharing a
commitment to innovation and a passion for delivering superior
service, Hawaiian Telcom provides an Always OnSM customer
experience. For more information, visit www.hawaiiantel.com.
The Hawaiian Telcom Holdco, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=10087
CONTACT: Media Relations Contact:
Scott Simon, Hawaiian Telcom
(808) 546-5466
Investor Relations Contact:
Brian Tanner, Hawaiian Telcom
(808) 546-3442
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