ATC Teleports, Inc. Acquires U.S. Electrodynamics, Inc.Business/Technology Editors FAIRFAX, Va.--(BUSINESS WIRE)--Dec. 20, 1999 ATC ATC Air Traffic Control ATC Average Total Cost ATC Certified Athletic Trainer ATC At the Center (Hartford, Maine retreat center) ATC Applied Technology Council ATC All Things Considered Teleports, Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of American Tower Corporation Formed in 1995, American Tower Corporation is a publicly held company (NYSE: AMT) that is a leading owner and operator of wireless and broadcast communications sites in North America. Today American Tower owns and operates over 30,000 sites in the United States, Mexico and Brazil. (NYSE NYSE See: New York Stock Exchange :AMT See vPro. ), announced today that it has entered into an agreement to purchase the assets of U.S. Electrodynamics electrodynamics, study of phenomena associated with charged bodies in motion and varying electric and magnetic fields (see charge; electricity); since a moving charge produces a magnetic field, electrodynamics is concerned with effects such as magnetism, , Inc. (USEI) for $60 million in cash and stock, pending regulatory approval. The transaction is expected to close in the first quarter of 2000. ATC Teleports' merger includes 52 antennas with teleport facilities in Brewster, Washington Brewster is a city in Okanogan County, Washington, United States. The population was 2,189 at the 2000 census. History Brewster was officially incorporated on April 29,1910 , Whitinsville, Massachusetts and Kingman, Arizona Kingman is a city in Mohave County, Arizona, United States. The population was 20,069 at the 2000 census. The city is the county seat of Mohave CountyGR6. According to 2005 Census Bureau estimates, the population of the city is 25,547. . The teleports offer video, voice, data and Internet services via satellite as well as nationwide fiber connectivity. The transaction includes a 16.4 meter antenna providing service on the Intelsat 707 satellite at 359 degrees for single hop Internet transmission capability as far as India. David Garrison, Chairman of the Board for ATC Teleports stated, "The USEI facilities provide our customers with immediate access to the Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. and India. The West Coast teleport enables us to expand our digital services to high growth areas such as China, South East Asia and Australia. USEI also adds an impressive portfolio of satellite space segment which our customers need for high speed links over the oceans." Daniel E. Murphy, President of U.S. Electrodynamics, Inc. stated, "We are pleased with the merger. We will continue to provide excellent service for our existing customers as we enhance our capabilities through the synergies of two outstanding companies." ATC Teleports, Inc. is a leading provider of domestic and international satellite services. Giving effect to pending transactions, the company owns and operates more than 160 antennas accessing most major satellite systems from U.S. teleport locations in Arizona, California (under construction), New Jersey, Massachusetts, Texas, Virginia and Washington. ATC Teleports supplies terrestrial connections to major points of presence (POPs), co-location facilities and switching centers. It has 24x7 Technical Operations Centers located at 60 Hudson Street in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , One Main Place in Dallas and in Alexandria, Virginia. The teleports provide complete engineering, management and technical assistance for full-time and occasional-use video, Internet, data and voice applications. American Tower is the leading independent owner operator and developer of broadcast and wireless communications sites in North America. Giving effect to pending transactions, American Tower operates approximately 9,800 sites in the United States and Mexico, including approximately 300 broadcast tower sites. Of the 9,800 sites, approximately 8,700 are owned or leased towers and approximately 1,100 are managed and lease/sublease sites. Based in Boston, American Tower has regional hub offices in Boston, Atlanta, Chicago, Houston, and San Francisco. For more information about American Tower Corporation and ATC Teleports, please visit our web sites www.americantower.com and www.atcteleports.com. This press release contains "forward-looking statements" concerning future expectations, plans or strategies that involve a number of risks and uncertainties. The Company wishes to caution readers that certain factors may have affected the Company's actual results and could cause results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company. Such factors include, but are not limited to (i) substantial capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. and leverage principally as a consequence of its ongoing acquisitions and construction activities, (ii) dependence on demand for wireless communications, use of satellites for Internet data transmission, and implementation of digital television, (iii) the success of the Company's tower construction program and (iv) the successful operational integration of the Company's business acquisitions. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. |
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