Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: javajake who wrote (74652)	12/15/2000 9:58:54 AM
From: LANCE B	Read Replies (1) \| Respond to of 150070

ACEN-DID YOU SEE THE NEWS WITH SWIFT TODAY.. Swift Telecommunications Acquires AT&T EasyLink Business NEW YORK--(BUSINESS WIRE)--December 15, 2000--Swift Telecommunications, Inc. (STI) and AT&T (NYSE: T) today announced they have signed a definitive sale agreement for STI to acquire the AT&T EasyLink(R)Services business and assets. Financial terms of the agreement were not disclosed. AT&T EasyLink Services includes AT&T Electronic Data Interchange (EDI), AT&T Internet Protocol (IP) EDI, AT&T Faxsolutions(sm), AT&T Mail Services, AT&T Web to Fax Services and AT&T Telex Service. The agreement also includes the transfer of AT&T's equity interest in AT&T EasyLink Services Ltd., a UK subsidiary of AT&T that markets and sells EasyLink Service in the United Kingdom, Germany and France. EasyLink Services are distributed through a direct sales force, domestic and international resellers, as well as via interconnection with overseas Telecommunications Authorities (TA). "This transaction is a logical next step for STI and is the perfect complement to our recent acquisitions," said George Abi Zeid, founder and CEO of Swift Telecommunications, Inc. "We feel that the network, systems and personnel we will acquire through the EasyLink acquisition will position STI as an industry leader in the value-added messaging market. "EasyLink's existing customer base will also benefit from the new value-added business services we plan to implement in the network over the next twelve months," said Zeid. Our executive team has worked with AT&T and its Business Services division in a number of different capacities over the years, so we're confident this will be a smooth transition." "We believe that STI's specialization in these services will serve EasyLink customers well," said Anne Chow, vice president, Managed Applications Services, AT&T Business Services. "AT&T's goal is to support the smoothest possible transition, ensuring for our EasyLink customers that the high level of support and care to which they are accustomed continues seamlessly as they move from AT&T to STI." The sale is expected to be completed early in the new year. The transaction is subject to the customary closing conditions. STI is a Telex, Fax, Data, VoIP, Outsource and Facility Management Company headquartered on Long Island, New York, with sales offices and computer facilities in New York City and in 46 countries overseas. STI was formed to acquire, outsource and/or perform facilities management for the telex, fax, VoIP and data business of retail customers as well as PTTs and wholesale carriers around the world. AT&T Corp. is among the world's premier voice and data communications companies, serving consumers, businesses, and government. With annual revenues of more than $62 billion and 160,000 employees, AT&T provides services to customers worldwide. This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements regarding the Company's plans, intentions and expectations. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. These risks include increased levels of competition, shortages of cellular handsets and other key equipment, restrictions on the Company's ability to finance its growth and other factors. A more extensive discussion of the risk factors that could impact these areas and the Company's overall business and financial performance can be found in the Company's reports filed with the Securities and Exchange Commission. Given these concerns, investors and analysts should not place undue reliance on forward-looking statements. CONTACT: For Further Information: June Rochford - AT&T 908-221-8165 (office) jrochford@att.com or Fran Santacapita - Swift 516-671-9100 x255 fsantacapita@swifttelecom.com