DEFINITIVE AGREEMENT ANNOUNCED BY NTWK.BATON ROUGE Baton Rouge (băt`ən r  zh) [Fr.,=red stick], city (1990 pop. 219,531), state capital and seat of East Baton Rouge parish, SE La. , La.--(BUSINESS WIRE)--May 30, 1995--Network Long
Distance Inc. (NASDAQ NASDAQin full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :NTWK) today announced the signing of a definitive agreement to purchase selected business and residential accounts from Network Services Inc. for NTWK stock and cash. Network Services Inc. is a long distance reseller An organization that sells hardware and software to the general public. Resellers purchase products from software publishers and hardware manufacturers. providing 1+ services to business and residential customers. Network Services Inc.'s customer base is located primarily in Oklahoma, but it also markets throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The acquisition of Network Services Inc.'s customer base will increase NTWK's revenue by approximately 5 percent. "The acquisition of selected business and residential accounts from Network Services Inc. expands NTWK's broad range of long distance services into attractive new markets," stated Michael M. Ross, president of NTWK. "The transaction is part of our ongoing effort to augment the competitive position and growth of our long distance operations. Furthermore, this acquisition is consistent with NTWK's long-term business strategy of continued growth, while achieving further operating efficiencies. In addition, the acquisition enables NTWK to gain additional economies of scale." NTWK is actively reviewing additional acquisition candidates. NTWK will provide additional information to the investment community as it becomes available. NTWK provides complete long distance services to businesses and residences through its retail division and to other telecommunications companies See telecom company. through its full service agent and switchless carrier resale divisions. CONTACT: Arete a·rête n. A sharp, narrow mountain ridge or spur. [French, from Old French areste, fishbone, spine, from Late Latin arista, awn, fishbone, from Latin, awn. Financial Group Inc. Craig Samuels, 305/452-7889 305/452-7869 fax or Network Long Distance Inc. Michael M. Ross, 504/343-3125 504/343-2444 fax |
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