ICG Announces Sale of Wholesale Dial Access Business to Level 3.Business Editors/High-Tech Writers ENGLEWOOD, Colo.--(BUSINESS WIRE)--April 1, 2004 ICG ICG indocyanine green. Communications, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :ICGC ICGC International Cancer Genome Consortium ) announced today the sale of the company's Dial Up Internet customer base to Level 3 Communications
Level 3 Communications NASDAQ: LVLT is a communications and information services company headquartered in Broomfield, Colorado, USA. Inc. for $35 million. ICG provided Remote Access Services (communications) Remote Access Services - (RAS) A service provided by Windows NT which allows most of the services which would be available on a network to be accessed over a modem link. ("RAS (1) See network access server. (2) (Remote Access Service) A Windows NT/2000 Server feature that allows remote users access to the network from their Windows laptops or desktops via modem. See RRAS and network access server. ") to both large national as well as regional ISPs of whom Level 3 will now serve. "We're pleased to have finalized the sale of our RAS customers to Level 3," said Rich Fish, executive vice president and chief financial officer at ICG. "This transaction is in keeping with our previously stated objectives to address the company's liquidity situation through divestiture of non-core assets." "We could not have selected a better quality network provider than Level 3 to assume these ISP customer relationships, and we expect a seamless transition for them as well as their Internet subscribers," said Jeffrey R. Pearl, chief executive officer at ICG. ICG will continue to offer PRI PRI: see Institutional Revolutionary party. (Primary Rate Interface) An ISDN service that provides 23 64 Kbps B (Bearer) channels and one 64 Kbps D (Data) channel (23B+D), which is equivalent to the 24 channels of a T1 line. , primary rate interface service to ISPs, other carriers and businesses, as well as retain its nationwide data backbone. ICG Communications, Inc. (OTC:ICGC) is a premiere business communications company that specializes in converged voice and data services. ICG has a national footprint and extensive metropolitan fiber serving 33 markets. ICG products and services include voice and Internet Protocol (IP) solutions including VoicePipe(TM), voice services, dedicated Internet access (DIA), and private line transport services. ICG serves corporate customers and interexchange carriers with flexible and reliable solutions. For more information about ICG Communications, visit the company's Web site at www.icgcom.com. Forward-Looking Statement Disclosure: Information and statements presented in this document contain forward-looking statements and disclosing, expressed or implied, that are based on the beliefs of management as well as assumptions made based on information currently available to management. These forward-looking statements involve many risks and uncertainties and actual results may differ materially. Interested parties are urged to read ICG's Sept. 30, 2003, 10-Q and December 24, 2003, S-1. |
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