STOCKHOLM, Sweden, Sept. 26, 2003 (PRIMEZONE) -- Teligent (Pink Sheets:TLIGF) strengthens its position within Value Added Services for network operators through an acquisition of British Telspec's business unit for Switching & IN solutions. The business unit has 55 employees and has had an average annual turnover during recent years of approx. 4-5 million of which on-going support contracts have accounted for approx. 1.6 million. The major reference installation of the business is a Mass Calling Service installation contracted with BT. It is a vital network based solution in the British telecom network for the handling of high quantity calls, e.g. voting and competitions of the type popular in various TV productions. Important products besides the Mass Calling / Tele Voting are IPS (Intelligent Programmable Switch) and DISP (Distributed Intelligent Service Platform). Network operators such as BT, BT Ignite and other British and Russian operators are found among the business unit's customers and interesting market positions have been built up in England, Malaysia, Spain and Russia.
-- This business unit, with its existing installations, supplements Teligent's position and offering, says Ulf Lindsten, President and CEO of Teligent. The acquisition strengthens Teligent through the deep telecom competence that is available in the business. The well proved solution for high volume applications such as Mass Calling fits well into the Teligent's profile and product portfolio.
The acquisition is accomplished through a cash transaction of 1.2 millions plus an Earn out based part, limited to a maximum of 800,000.
Telspec had a total annual turnover of more than 40 millions last year and is listed on the London Stock Exchange. It was founded for more than 25 years ago and has two business segments. One is the major core business within Access Products, in which the company has its historical roots. The other segment is the smaller and younger part, Switching & IN solutions, which Teligent now acquires.
-- This acquisition fits well into our global expansion strategy with clear complements within both our offering as well as sales channels. There are also obvious synergies which can lead to cost savings in the merged business, concludes Ulf Lindsten. Questions regarding this press release can be addressed to the following individuals: Ulf Lindsten Lars Alm President & CEO CFO Teligent AB Teligent AB
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About Teligent
Teligent develops, markets and sells advanced value added services for telecommunications networks. The services and applications provided by the company are based on the generic service development platform, the Teligent P90/E. Teligent's solutions are currently utilised by leading telecom operators, for example AT&T Wireless, BT, Cingular, Maroc Telecom, T-mobile USA, Telefonica, Tele2, Telia and members of the Vodafone group.
Teligent was founded in 1990 and has been listed on the Stockholmsborsen (the Stockholm Stock Exchange) since 1999. The company's head offices are situated in Nynashamn. Outside Sweden, there are wholly owed subsidiaries located in France, Germany, the Middle East, Spain, the UK and the USA (under the trademark Nabla Communications Inc.). Teligent has approximately 230 employees and in 2002 generated an income of SEK 250,000,000. For further information, please visit www.teligent.se
About Telspec
Telspec plc (London Stock Exchange: TSP) is one of the UK's largest independent communications equipment suppliers. Founded in 1975, today the company employs more than 300 people at its headquarters and R&D centre in Rochester, Kent, and its manufacturing plant in Perth, Scotland. Telspec develops, manufactures and supplies specialised communications systems and solutions for use in networks that carry Internet and telephony services. These include specialised switching and service nodes for the base network as well as access and customer premises systems for voice and high-speed Internet services. Telspec has products in service with customers in more than 35 countries.
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