wade, re CTIG news
Tonight's news is kind of a non-event. Just the completion of a sale announced in November. Seems like a positive to me.
CTI Group Reports Agreement of Sale of Xila Communications, LLC
WEDNESDAY, NOVEMBER 03, 2004 2:05 PM
- BusinessWire
INDIANAPOLIS, Nov 3, 2004 (BUSINESS WIRE) -- CTI Group (Holdings) Inc. (CTIG) has reached an agreement to sell substantially all of the assets of its wholly owned subsidiary, Xila Communications, LLC ("Xila"), to eGIX, Inc. ("eGIX"). Xila operates as a competitive provider of bundled local and long distance telecommunications products and services to enterprise customers in the Indianapolis region. Xila and eGIX also entered into a services agreement whereby eGIX became involved in the operations of Xila's business. The closing of this transaction and operations under the services agreement is contingent upon various matters including the approval of the Indiana Utility Regulatory Commission.
According to Brad Houlberg, President and CEO, "The agreement to sell Xila is another step in our continued direction to focus on the core competencies of the Company, which include real-time telemanagement, electronic invoice processing, expense management, and service solutions. The agreement to sell substantially all of the assets of Xila to eGIX will allow Xila's customers to take advantage of a much broader portfolio of enhanced telecommunication services."
CTI Group (Holdings) Inc. is an international provider of next-generation billing management, telemanagement and data management software and services for telecommunications service providers and their corporate customers. CTI Group's SmartBill(R), and Proteus(TM) product suites offer a full array of solutions for telecommunications usage analysis, mediation, and electronic invoice receipt, processing and payment. CTI Group's products are in daily use by some of the top service providers in North America and the United Kingdom, and play a trusted role in managing telephony costs at major corporations around the world. Headquartered in Indianapolis, CTI Group maintains an overseas office in London. For more information, please visit CTI Group's website at www.ctigroup.com.
Headquartered in Carmel, Indiana, eGIX is a privately held integrated communications provider in the U.S. with a national network operating in various metropolitan service areas. eGIX serves as a single source for unified voice and data solutions, Internet access, VoIP applications, local line services and a suite of enhanced services including unified messaging. eGIX also wholesales enhanced service solutions to other Local Exchange Carriers (LECs), Competitive Local Exchange Carriers (CLECs), Personal Communications Service (PCS) and cellular providers.
Safe Harbor Statement
This press release contains "forward-looking" statements. Forward-looking statements include, but are not limited to statements of assumptions underlying other statements and statements about the Company and its business relating to the future; and any statements using the words "could", "should", "anticipate", "expect", "may", "project", "intend" "will" or similar expressions.
The Company's ability to predict projected results or the effect of events on the Company's operating results is inherently uncertain. Forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those discussed in this document. In addition to information provided elsewhere in this document, shareholders should consider the following: the risk that the Company will not be able to attract and retain customers to purchase its products, the risk that the Company will not be able to commercialize and market products; results of research and development; technological advances by third parties; competition; future capital needs of the Company; history of operating losses; dependence upon key personnel and general economic and business conditions. Readers are referred to documents filed by CTI Group with the U.S. Securities and Exchange Commission, including the Form 8-K filed November 2, 2004.
SOURCE: CTI Group (Holdings) Inc.
CTI Group (Holdings) Inc.
Fred Hanuschek, 317-262-4666
Copyright (C) 2004 Business Wire. All rights reserved.
AI
