XETA Technologies Shareholders Approve Acquisition by PAETEC
2011年5月27日 - 5:47AM
XETA Technologies, Inc. (Nasdaq:XETA), a national provider of
converged communications solutions for the enterprise marketplace,
announced that its shareholders have approved the merger agreement
entered into on February 8, 2011 between PAETEC Holding Corp.
(PAETEC), Hera Corporation and XETA Technologies, pursuant to which
PAETEC, through one of its subsidiaries, will acquire all of the
outstanding common shares of XETA Technologies at a price of $5.50
cash per share.
More than seventy percent (70%) of the outstanding shares of
XETA Technologies were represented at the special meeting of
shareholders held earlier today, with approximately 99% of those
shares voting in favor of the merger agreement.
Subject to the satisfaction or waiver of certain conditions set
forth in the merger agreement and discussed in detail in XETA's
Definitive Proxy Statement on Schedule 14A filed by XETA with the
Securities and Exchange Commission on April 18, 2011, XETA expects
to close the merger on May 31, 2011. Upon completion of the
merger, XETA will become a private company, wholly-owned by a
subsidiary of PAETEC Holding, and its common stock will no longer
be traded on NASDAQ.
About XETA Technologies, Inc.
XETA Technologies, Inc., sells, installs and services advanced
communication technologies for small, medium and Fortune 1000
enterprise customers. XETA maintains the highest level of technical
competencies with multiple vendors, including Avaya/Nortel, Mitel,
Hitachi, Samsung, HP, Polycom, Microsoft, Alcatel-Lucent, ShoreTel,
LifeSize and Juniper. With a 29-year operating history and over
16,000 customers from coast to coast, XETA has maintained a
commitment to extraordinary customer service. XETA's in-house
24/7/365 contact center, combined with a nationwide service
footprint, offers customers comprehensive equipment service
programs that ensure network reliability and maximized network
up-time. More information about XETA Technologies (Nasdaq:XETA) is
available at www.xeta.com.
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CONTACT: Dave Mossberg
Three Part Advisors, LLC
817-310-0051
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