|Citel Technologies Acquires Assets
of MCK Communications from Verso
(Seattle WA January 24, 2005) - Citel Technologies, a global provider
of IP telephony and communications solutions, announced that it has
acquired the assets of MCK Communications, Inc. (MCK), a leading
provider of distributed voice solutions for the extended enterprise,
from Verso Technologies, Inc. (Nasdaq: VRSO), an integrated
communications solutions company.
Citel issued Verso a $3.5
million secured interest-bearing note, payable over three years and has
assumed certain obligations associated with the MCK business. In
addition, most of the Verso employees working in the MCK business will
become employees of Citel or its subsidiaries.
"As we discussed in our mid-quarter update call and as we have stated
over the last several months, Verso intends to focus on next generation
carrier solutions," said Steve Odom, Verso’s Chairman and Chief
Executive Officer. "To that end, we believe that the disposition of
the MCK business makes sense at this time. Verso has benefited from the
relationship with MCK with regard to our carrier strategy, specifically
in gaining a better understanding of the opportunity of handset
technologies that can be sold through carriers. Furthermore, we
believe that the MCK business will be better positioned for growth as
part of a company that focuses on the enterprise segment. We wish all
the MCK employees the best."
"We are delighted to add MCK to our product portfolio," stated Michael
Robinson, Citel's Chief Executive Officer. "The MCK products are an
excellent fit for Citel in terms of technology and platforms, and
acquiring access to MCK’s distribution channels will expand the market
reach of our award winning CitelLink Handset Gateway product line.
Citel welcomes MCK’s talented employees to our team. Together we will
accelerate our mission to deliver advanced telephony applications to a
broad range of enterprises in a very practical and cost-effective
manner. Given the synergies between MCK and Citel, we expect this to
have a positive impact on Citel’s earnings from day one."
About Verso Technologies
Verso is a leading provider of next generation communication
solutions for carriers and service providers that want to lower their
communication infrastructure costs and enhance service capabilities
without sacrificing reliability, scalability and quality of service.
With an extensive solutions portfolio that extends from the core to
the edge of a network, Verso enables customers to leverage legacy
technology investments towards converged networks that are faster and
more cost-effective to deploy and easier and more flexible to manage.
Verso solutions are currently deployed in thousands of customer
networks in over 120 countries around the world. For more information,
contact Verso at www.verso.com or
About Citel Technologies
Citel Technologies is a global provider of unique IP telephony and
converged communications solutions, which bridge the two worlds of
traditional PBX telephones and next generation IP PBX and SIP systems.
Citel works in partnership with world leading telecom equipment
manufacturers and suppliers with the goal of simplifying and
accelerating the transition to next generation communications solutions.
The CitelLink Handset Gateway product line enables enterprise customers
to migrate their telephone networks from traditional PBX systems to IP
Telephony while still retaining their existing traditional business
telephones, thereby saving half the cost of migration. Citel is a
private company with offices in Nottingham, England (UK), and Seattle,
Washington (USA). Citel’s products are sold through a global network of
independent dealers and computer resellers, as well as through strategic
relationships with industry leaders such as 3Com, BroadSoft, Mitel
Networks, and Sylantro Systems. For more information, please visit
MCK Communications develops and markets distributed
voice solutions that cost-effectively create a more open and
interconnected business telephony environment, providing enterprises
with extended business reach, lowered communications costs and options
for flexible migration to next generation environments, while
empowering individuals with portable business telephony. With more
than 400,000 ports shipped worldwide, MCK EXTender products are
highly-scalable distributed telephony gateways capable of simply and
cost-effectively implementing telework, virtual call center, or other
Verso Investor Contact:
Director of Investor Relations
Verso Technologies, Inc.
Director of Corporate Communications
|Posted By: Citel News Admin
||On: 24 January, 2005