Wednesday, September 8, 2010

Neutral Tandem to Acquire Tinet SpA

Neutral Tandem, which provides tandem interconnection services to wireless, wireline, cable and broadband telephony companies across the U.S., has agreed to acquire Tinet SpA, an Italian based global carrier exclusively committed to the IP Transit and Ethernet wholesale market. Neutral Tandem will pay approximately EUR 74.5 million (approximately $94.9 million), which includes the assumption of approximately EUR 5.2 million in cash (approximately $6.6 million) and the assumption of approximately EUR 18.2 million euros in long-term
debt (approximately $23.2 million).

Based in Chicago, Neutral Tandem serves 155 markets in 189 LATAs across the U.S., including Atlanta, Boston, Chicago, Los Angeles, Seattle, Miami, New York City and Washington D.C.

The deal expands Neutral Tandem's IP-based network internationally, enabling global end-to-end delivery of
wholesale Voice, IP and Ethernet solutions.

"This acquisition redefines Neutral Tandem from a strictly voice interconnection company into a global IP-based network services company focused on delivering global connectivity for a variety of media, including voice, data and video," said Rian Wren, President and CEO of Neutral Tandem.

Tinet, formerly the carrier arm of Tiscali Group, has a network presence and customers in EMEA, Americas and APAC.

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