Telmar Network Technology to Acquire Somera Communications
2006年6月26日 - 8:00PM
PRニュース・ワイアー (英語)
DALLAS, June 26 /PRNewswire-FirstCall/ -- Somera Communications,
Inc. (NASDAQ:SMRA) and Telmar Network Technology jointly announced
today that they have signed a definitive agreement under which
Somera will merge with and become a wholly owned subsidiary of
Telmar. Shareholders of Somera will receive $4.60 per share in cash
from Telmar, representing a 123% premium over the closing price on
Friday, June 23, 2006 of $2.06. Pending the approval of Somera
shareholders, the transaction is expected to close this year. The
combination of Somera and Telmar will create a telecom asset
management company with a significant portfolio of products and
services. The company will focus on providing the telecom market
with reliable, high- quality, and cost-effective solutions for
network maintenance, expansion and asset management. Included in
the products and services portfolio will be a blend of new and
certified legacy telecom equipment, multi-vendor repair
capabilities as well as Somera's RecoveryPLUS(TM) asset management
program. John Kidwell, Chief Executive Officer of Telmar, will
serve as CEO of the combined company. The leadership team of the
combined entity will be comprised of senior leaders from both
companies and will be formed during the approval process. Wayne
Higgins, Chief Operating Officer of Somera, will be responsible for
overseeing Somera during the transition including both the
traditional business lines and the continued expansion of the
RecoveryPLUS service offering. David Heard, Chief Executive Officer
of Somera, will formally depart Somera on July 1, 2006 and will
assist in the transition as a member of the advisory board and
consultant for Somera. "We are very pleased to join forces with
Somera and further strengthen our leadership position as a cost
effective provider of products and services to the nation's leading
carriers," said Mr. Kidwell. "The combined strength of these two
companies better positions us to serve our customers in these
rapidly changing and consolidating markets. Achieving significant
scale is paramount for competing effectively in today's market, and
this merger will create one of the largest companies in the
industry with more than 400 employees serving customers in 25
countries." "With continued consolidation in the telecom industry,
there are tremendous opportunities for carriers to drive cost
savings through asset management services," said James C. Neary,
Managing Director of Warburg Pincus, who acquired Telmar along with
management earlier this year. "We believe the merger of Telmar and
Somera will result in an outstanding company with the scale,
financial strength, and comprehensive products and services
offerings to create a sustainable competitive advantage in this
attractive market." "For more than four decades, Telmar has built a
successful franchise by consistently identifying additional
opportunities to provide value to its customers. With the addition
of Somera's complementary equipment brokerage operations and unique
RecoveryPLUS business, we have significantly enhanced our ability
to meet the evolving asset management needs of telecom carriers.
The combination of this merger and our recently formed partnership
with Warburg Pincus, establishes Telmar as a financially strong,
profitable industry leader that is well positioned to capitalize on
the growing market for telecom asset management," said CEO Kidwell.
Houlihan Lokey Howard & Zukin acted as a financial advisor to
Somera Communications. Important Information Investors and security
holders are urged to read the proxy statement regarding the
transaction referred to in the foregoing information, when it
becomes available, because it will contain important information.
The proxy statement will be filed with the Securities and Exchange
Commission (SEC) by Somera. Investors and security holders may
obtain a free copy of the proxy statement (when it becomes
available) and other documents filed by Somera with the SEC at the
SEC's website at http://www.sec.gov/. In addition, the proxy
statement (when it becomes available) and these other documents may
be obtained free of charge from Somera by directing a request to
Somera Communications, Inc., 301 S. Northpoint Drive, Coppell,
Texas 75019, Attn: Kent Coker. Contact: Tony Rossi Investor
Relations for Somera Communications, Inc. Financial Relations Board
310-854-8317 DATASOURCE: Somera Communications, Inc. CONTACT: Tony
Rossi of Financial Relations Board, +1-310-854-8317, Investor
Relations for Somera Communications, Inc. Web site:
http://www.somera.com/
Copyright
Somera Communications (NASDAQ:SMRA)
過去 株価チャート
から 5 2024 まで 6 2024
Somera Communications (NASDAQ:SMRA)
過去 株価チャート
から 6 2023 まで 6 2024
Real-Time news about Somera Communications (MM) (ナスダック市場): 0 recent articles
その他のSomera Communications (MM)ニュース記事