Gores Technology Group Acquires Leading Provider of Public Telephony and System Management Services
March 30, 2000
LOS ANGELES, March 30, 2000 - Gores Technology Group (GTG), a leading international technology acquisition and management company, today announced that it has acquired the Advanced Public Access Solutions (APAS) operations from Nortel Networks Corporation.
APAS, which will be renamed QuorTech Solutions, Inc., is a leading provider of next generation public telephony and network system management services, with a substantial installed base in 12 countries. Major customers include Bell Canada, several of the US-based Bell operating companies, as well as major international telephone companies, including GTE, Sprint and AT&T. QuorTech Solutions' product offerings will consist of the Millennium product portfolio, a complete solution to managing a payphone network including payphones, network system support software and a software control center.
"We are extremely pleased and excited to have the opportunity to acquire APAS from Nortel" said Alec Gores, Chairman of the Board of GTG. "APAS has established a strong franchise position in the public access terminal and network management industry and is ideally positioned to quickly establish a leadership position for GTG in the public telephony market with its premier product offerings and leading edge technological capabilities."
About Gores Technology Group
With headquarters in Los Angeles, Gores Technology Group (GTG) is a leading international technology and management company with an aggressive strategy of acquiring promising high-technology organizations, products and services and managing them for increased growth and profitability. GTG's established infrastructure currently manages a portfolio of 14 technology-oriented companies that are located in 40 countries throughout the world. Those companies provide a broad range of technology-based products and services to a substantial customer base of 12,500 corporations and companies that represent over 1.5 million active users.
About Nortel Networks Corporation
Nortel Networks is a global leader in telephony, data, eBusiness, and wireless solutions for the Internet. The Company had 1999 U.S. GAAP revenues of US$21.3 billion and serves carrier, service provider and enterprise customers globally. Today, Nortel Networks is creating a high-performance Internet that is more reliable and faster than ever before. It is redefining the economics and quality of networking and the Internet through Unified Networks that promise a new era of collaboration, communication and commerce. The company's Web site address is www.nortelnetworks.com.