Black Box Corporation Announces Merger With Advanced Network Technologies, Inc.Business Editors PITTSBURGH--(BUSINESS WIRE)--March 27, 2000 Black Box Corporation (Nasdaq:BBOX) today announced a merger with Advanced Network Technologies, Inc. (ADNET). Established in 1988 in Victorville, California Victorville is a city located in the Victor Valley of western San Bernardino County, California, USA. According to the U.S. Census Bureau's 2000 census, the city has a total population of 64,029. , privately-held ADNET provides technical design, installation and maintenance services for premise cabling and related products to customers throughout the southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, region with branch offices in northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern and Phoenix, Arizona Phoenix /ˈfiːˌnɪks/ (English: Phoenix, Navajo: Hoozdo, lit. "the place is hot", Western Apache: Fiinigis) is the capital and the most populous city of the U.S. . Annual revenues of ADNET are approximately $14 million. Commenting on the merger, Fred C. Young, Chief Executive Officer of Black Box Corporation, stated, "We are very excited about entering the California marketplace with ADNET. ADNET is an outstanding company, servicing a very large and dynamic market. We expect to grow our California business around their organization." James W. Emery emery: see corundum. emery Granular rock consisting of a mixture of the mineral corundum (aluminum oxide, Al2O3) and iron oxides such as magnetite (Fe3O4) or hematite (Fe2O3). , President and owner of ADNET, said, "The spirits are high at ADNET with great expectations in expanding our services to our most valued customers. The synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. that is generated by the union of Black Box and ADNET will enhance our commitment to excellence in providing the highest quality of customer service and satisfaction on a national scale." Mr. Emery will continue to serve as President of ADNET. This transaction is being accounted for as a purchase. The purchase price has not been disclosed. Black Box is a leading worldwide technical service provider of computer communications and networking services and related products to businesses of all sizes, operating in 77 countries throughout the world. |
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