Gores Technology Group, LLC Acquires National Public Markets from AT&T Corporation
July 5, 2005
Los Angeles, CA, July 5, 2005 - Gores Technology Group, LLC ("Gores"), a leading privately held investment firm, today announced that its portfolio company Global Tel*Link Corporation ("GTL") has purchased the National Public Markets ("NPM") business from AT&T Corporation. Terms of the transaction were not disclosed.
The combination of NPM and GTL will create the leading turnkey telecom service provider focused on inmate facilities and airports. The combined entity will enjoy the benefits of having the best people, processes, technology and resources available in the field, and should immediately become the industry's leading service provider.
John Hyland, President of NPM, stated, "We are excited to join the Gores portfolio of companies. We believe that combining GTL's inmate phone platform with NPM's unsurpassed service and support will allow us continued growth and expansion, maintaining our position as the provider of the market's premier telecommunications platform."
"National Public Markets is an ideal acquisition for Gores and GTL. Together, the combined company will couple industry-leading technology with a powerful sales force and support team. We continue to focus our strategic vision in the telecom sector and look forward to the future success of both GTL and NPM." said Steven Yager, President of Mergers and Acquisitions at Gores.
About Gores Technology Group, LLC
Gores Technology Group, LLC ("Gores") is a private investment firm focused on the technology and telecommunications sectors. Since 1987, Gores has amassed an enviable track record of successful investments within these sectors. The firm combines the seasoned M & A team of a traditional financial buyer with the operational expertise and detailed due diligence capabilities of a strategic buyer. Gores has a long standing record of creating sustainable value in its portfolio companies by focusing on customers and employees, supporting management with operational expertise and providing the capital required for growth. Headquartered in Los Angeles, California, Gores maintains offices in Boulder, Colorado; London; and Zürich, Switzerland. (www.gores.com)
About National Public Markets
NPM was formed in 1998 through the combination of TCG Payphone Inc. and AT&T's Payphone Development and Operations units. NPM was established to compete against the Regional Bell Operating Companies in the local payphone market. Effective January 1, 2004, AT&T Consumer Inmate Systems business has been consolidated into NPM. The business provides end-to-end, payphone services to inmates in correctional facilities in the U.S. and manages an installed base of over 8,000 public telephones concentrated in major airports. (www.att.com/public)
About Global Tel*Link
Global Tel*Link Corporation ("GTL"), based in Mobile, AL, entered the telecommunications market in the late 1980's with the introduction of an advanced "smart" store and forward public payphone system. With the success of this public payphone system in several states across the country, GTL applied the technology to inmate telephone systems. GTL's unique product provides correctional facilities a convenient and secure phone system which requires less administrative supervision while decreasing inmate phone-use fraud. Over 50% of all Departments of Correction inmates in the United States communicate through GTL's LazerPhone systems, as well as hundreds of County prisons and jails throughout the country.
For additional information, please contact:
Gores Technology Group, LLC (310) 209-3010
Sitrick And Company (310) 788-2850