Eschelon Telecom (NASDAQ:ESCH)
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(NASDAQ:ESCH): Eschelon Telecom, Inc., a provider of integrated
communications services to small and medium sized businesses in the
western United States, today announced that the New York State Public
Service Commission has approved the acquisition of Eschelon Telecom,
Inc. by Integra Telecom Holdings, Inc. The approval was deemed granted
by operation of law on July 5, 2007.
Approval from the final state, Arizona, is anticipated by the end of the
month of July. The acquisition is expected to close in the third quarter.
About Eschelon Telecom, Inc.
Eschelon Telecom, Inc. is a facilities-based competitive communications
services provider of voice and data services and business telephone
systems in 53 markets in the western United States. Headquartered in
Minneapolis, Minnesota, the company currently employs approximately
1,470 telecommunications/Internet professionals, serves over 65,000
business customers and has approximately 655,000 access lines in service
throughout its markets in Minnesota, Arizona, Utah, Washington, Oregon,
Colorado, Nevada, Montana and California. For more information, please
visit our web site at www.eschelon.com.
About Integra Telecom, Inc.
Integra Telecom, Inc. provides voice, data and Internet communications
to thousands of business and carrier customers in eight Western states,
including: Arizona, California, Idaho, Minnesota, North Dakota, Oregon,
Utah and Washington. The company owns and operates a best-in-class
fiber-optic network comprised of eight metropolitan access networks, a
nationally acclaimed tier one Internet and data network and a 4,700-mile
high-speed long haul network. The company enjoys some of the highest
customer loyalty and customer satisfaction ratings in the
telecommunications industry. Primary equity investors in the company
include Bank of America Capital Investors, Boston Ventures and Nautic
Equity Partners. Integra Telecom and Electric Lightwave are registered
trademarks of Integra Telecom Inc. For more information, visit www.integratelecom.com.
Forward Looking Statements
This announcement contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. The
forward-looking statements are based on Eschelon Telecom’s
current intent, belief and expectations. These statements are not
guarantees of future performance and are subject to certain risks and
uncertainties that are difficult to predict. Actual results may differ
materially from these forward-looking statements because of the company’s
history of losses, ability to maintain relationships with RBOCs,
substantial indebtedness, intense competition, dependence on key
management, changes in government regulations, and other risks that may
be described in the company’s filings with the
Securities and Exchange Commission. In particular, statements regarding
the consummation of the merger are subject to risks that the conditions
to the transaction will not be satisfied. In addition, our results of
operations, financial condition and cash flows also may be adversely
impacted by the recent announcement of the proposed transaction, which
may impact our ability to attract and retain customers, management and
employees. We have incurred and will continue to incur significant
advisory fees and other expenses relating to the transaction. Existing
and prospective investors are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of today’s
date. Eschelon Telecom undertakes no obligation to update or revise the
information contained in this announcement, whether as a result of new
information, future events or circumstances or otherwise.