Black Box Corporation signs Purchase Agreement to Acquire NextiraOne USA and Canadian Operations; Represents Approximately $270
April 10 2006 - 9:57AM
Business Wire
Black Box Corporation (NASDAQ:BBOX) and Platinum Equity, LLC today
announced that they have signed a Purchase Agreement for Black Box
to acquire the USA Commercial and Government and Canadian
Operations of NextiraOne, LLC, a company owned by Platinum Equity,
LLC. Fred C. Young, Black Box Corporation's Chief Executive
Officer, said, "The teams on both sides have done a great job
getting us to this point. Our goal from here will be to officially
close this transaction by April 30, 2006. We look forward to this
conclusion." Mr. Young went on to say, "Upon closing of this
transaction, Black Box in total will be approximately $1 billion in
revenues. And our core attributes will include: a very large and
diverse customer base; the best technical team and, thus, the best
operating model in our industry; a well-established single brand to
market under - Black Box(R); and a strong financial foundation to
provide us the necessary capital to effectively operate and grow
our business. Our customers have expectations of Black Box to
deliver a family of high quality technical services. Now they will
have an even greater breadth of services made available to them
from Black Box that is clearly unparalleled in the marketplace." As
the transaction officially concludes, Black Box and NextiraOne will
begin the integration process, including the immediate re-branding
of the NextiraOne business as Black Box. The combined Black Box and
NextiraOne entity will continue to fully support installed and new
voice technology requirements for all NextiraOne clients. Black Box
also will continue to be a Strategic Authorized National Nortel
Elite Business Partner for all of Nortel's products and services
throughout the USA and Canada. The Purchase Agreement contains
conditions to close including satisfactory settlement of certain
litigation and regulatory matters along with other customary
closing conditions. There is no assurance that all closing
conditions will be met and that the transaction will be completed.
Forward-looking Statement Statements in this release that are not
purely historical are forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, including, without limitation,
statements regarding the company's expectations, objectives,
anticipations, plans, hopes, beliefs, intentions or strategies
regarding the future. Forward-looking statements in this release
include, without limitation, statements regarding: (1) completion
of satisfactory due diligence, (2) satisfaction of closing
conditions, (3) closing of the transaction and (4) revenue. Factors
that could cause actual results or events to differ materially from
the forward looking statements include risks and uncertainties such
as unsatisfactory due diligence results, the failure to satisfy
closing conditions, the failure to develop or execute a successful
integration plan regarding the acquired operations' customers,
suppliers and employees and other risks indicated in our filings
with the Securities and Exchange Commission. It is important to
note that actual outcomes could differ materially from those in
such forward-looking statements. Readers should also refer to the
documents filed by Black Box with the Securities and Exchange
Commission, specifically the annual report filed on Form 10-K for
the year ended March 31, 2005, which identify important risk
factors. About Black Box Black Box is the world's largest technical
services company dedicated to designing, building and maintaining
today's complicated data and voice infrastructure systems. Black
Box services 152,000 clients in 141 countries with 143 offices
throughout the world. To learn more, visit the Black Box website at
www.blackbox.com. Black Box and the Double Diamond logo are
registered trademarks of BB Technologies, Inc. About NextiraOne
NextiraOne North America is a leading provider of integrated
enterprise network, IP telephony, voice and data solutions and
services that enable effective business communications. The
company's expertise ranges from planning to the implementation,
support and management of traditional, IP and converged voice and
data communications networks. For more information, please visit
www.nextiraone.com.
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