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DJ Illuminet CEO Moore: IPO Funds To Go To Acquisitions
NEW YORK (Dow Jones)--Roger Moore, president and chief executive of Illuminet
Holdings Inc. (ILUM), said the company will use funds raised through its initial public
offering for acquisitions.
As reported Friday, Illuminet, which provides Signaling Systems 7 services to
telecommunications companies like AT&T Corp. (T), is offering 3.9 million common
shares priced at $19 each through underwriters led by Morgan Stanley Dean Witter.
Shares closed Friday at 28 1/2 and traded recently at 32 1/8, up 12.7%, or 3 5/8, on
volume of almost 1.4 million shares.
In an interview on CNBC Monday, Moore said the company wants to add
intelligent-network and inter-carrier mediation services to its portfolio.
"As you have the evolution into packet-based communications" that add data and video
communication to telephone services, Moore said, "it creates more opportunity for us,
not only for our traditional services, but for new services carriers will need to compete in
the marketplace."
SS7 services check whether a telephone line is free to accept a call in order for network
resources are used efficiently. They also provide caller identification, cell roaming, and
some billing services. -Riva Richmond; Dow Jones Newswires; 201-938-4046
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Looks like a little publicity never hurts!
--Bill |
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