Global Village Sells Assets of its ISDN Business Unit To Mitel.SUNNYVALE, Calif.--(BUSINESS WIRE)--Feb. 3, 1997--Global Village Communication, Inc. (NASDAQ NASDAQ in 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 :GVIL) today announced that it has sold the assets of its U.K.-based ISDN ISDN in full Integrated Services Digital Network Digital telecommunications network that operates over standard copper telephone wires or other media. (Integrated Services Digital Network Integrated services digital network (ISDN) A generic term referring to the integration of communications services transported over digital facilities such as wire pairs, coaxial cables, optical fibers, microwave radio, and satellites. ) enterprise network server business unit to Mitel Corporation of Canada in a deal valued at approximately $3.8 million (U.S.) in cash. As part of the transaction, Global Village will retain a royalty free license for portions of the ISDN technology. Based in the United Kingdom, the ISDN business unit developed and marketed a family of ISDN remote access products primarily for medium and large enterprises. In October of last year, Global Village announced that it would sell this business and account for it as a discontinued operation discontinued operation A segment of a business that has been abandoned or sold or for which plans for one or another of these actions have been approved. See also continuing operations. . "The sale supports our on-going strategy of focusing our resources on personal communications products for both the Windows and Macintosh platforms," said Neil Selvin, president and chief executive officer of Global Village Communication. Global Village Communication (UK) Limited remains part of Global Village Communication. About Global Village Communication With nearly 8 million customers, Global Village Communication (NASDAQ: GVIL) is a leading supplier of integrated communication solutions for personal computer users. The company's broad product offerings include fax/modems for individual users; software that integrates fax, data, e-mail, Internet, voice mail, speakerphone speak·er·phone n. A telephone or telephone attachment that contains both a loudspeaker and a microphone, allowing several persons to participate in a call at the same time without the telephone receiver being held. Noun 1. and paging communications for individual users; communication servers that combine fax, remote access and network modem A modem shared by all users in a network. See network access server. for small businesses and workgroups; and wireless Internet receivers that provide multimedia news, sports and weather information direct to the desktop. Global Village sells its products directly and through leading VARs, retailers and distributors worldwide. For more information please visit the Global Village web site at "The Village," http://www.globalvillage.com . CONTACT: Global Village Communications, Inc. Kevin Burr burr (bur) bur. burr n. Variant of bur. burr 1. a plant seed capsule carrying many hooked structures which catch in animal coats thus promoting dissemination of the plant. , 408/523-2260 kevin_burr@globalvillage.com Heidi Palmer, 408/523-2204 heidi_palmer@globalvillage.com |
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