ATLANTA, GA MARCH 27, 2002 -- Ptek Holdings (NASDAQ- PTEK ) today announced the sale of its Voicecom operating unit, a leading provider of integrated communications solutions, to an affiliate of the Gores Technology Group, (GTG) a privately held international acquisition and management company. Under terms of the agreement, the purchaser agreed to pay Ptek an aggregate of approximately $ 22.4 million in cash and the assumption of Voicecom liabilities.
"The completion of the sale of Voicecom allows us to focus our undivided attention on the interrelated services of conferencing and multimedia messaging, " said Boland Jones, founder, Chairman and CEO of Ptek Holdings. " Although we were preparing to spin off the Voicecom unit to Ptek shareholders, we believe the sale of the division will enable us to achieve our objective of becoming the leading global provider of enhanced business communications solutions to the global enterprise marketplace much more quickly."
Ptek plans to focus its attention on its enhanced multimedia group communications services from Premiere Conferencing and Xpedite. Premiere Conferencing is a leading provider of a full range of enhanced, audio and Web conferencing services for all forms of group communications activities and conducts business in nine countries, serving half of the Fortune 500. Xpedite offers a comprehensive suite of value-added multimedia messaging services that manage and facilitate the electronic distribution of information to all types of electronic addresses including fax, e-mail, voice and wireless. The company provides services in 18 countries for nearly 50 percent of the Fortune 500.
About Voicecom
Voicecom is an integrated communications solutions provider and has service offerings in messaging, unified communications, call answering, mobile calling and broadcast voice. The company's solutions are designed to meet a diversity of needs in the mobile, SOHO (small office/home office) and Enterprise markets, including customer care, interpersonal messaging, and large-scale corporate communications. Voicecom's corporate headquarters are located in Atlanta, GA with operations in Australia, Canada, Europe and throughout the United States. For more information, please visit www.voicecom.com.
About Ptek Holdings, Inc.
Ptek Holdings, Inc. (NASDAQ: PTEK) is a leading provider of enhanced multimedia group communications services to the global enterprise marketplace. These solutions, which include conferencing, collaboration and messaging, are marketed under the Premiere Conferencing and Xpedite brand names. Ptek Holdings corporate headquarters is located at 3399 Peachtree Road NE, The Lenox Building, Atlanta, GA 30326. Additional information can be found at www.ptek.com.