Black Box Corporation Announces Completion of Acquisition of NextiraOne USA and Canadian Operations; Represents Approximately $
May 01 2006 - 9:04AM
Business Wire
Black Box Corporation (NASDAQ:BBOX) today announced that on April
30, 2006 it completed its previously-announced acquisition of the
USA Commercial and Government and Canadian Operations of
NextiraOne, LLC, a company owned by Platinum Equity, LLC. These
operations service commercial and various government agency clients
and represent approximately $270 million to $280 million of
projected annualized voice services revenues. 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
transaction is being accounted for as a purchase. As a result of an
estimate of the equity book value of the acquired companies (total
assets less total liabilities, as adjusted by the parties for
certain items) as of the closing date, the total net purchase price
for the acquisition paid at closing was $97,305,000. The actual
equity book value adjustment will be confirmed post-closing at
which time the final purchase price will be determined. The
purchase price was paid in cash. Forward-looking Statements
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 revenue. Factors that could cause
actual results or events to differ materially from the forward
looking statements include risks and uncertainties such as the
failure to develop or execute a successful integration plan
regarding the acquired operations' customers, suppliers and
employees. It is important to note that actual outcomes could
differ materially from those in such forward-looking statements.
Readers should 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 158 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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