TIE/COMMUNICATIONS ANNOUNCES ATLANTA ACQUISITION
TIE/COMMUNICATIONS ANNOUNCES ATLANTA ACQUISITION SEYMOUR, Conn., Sept. 17 /PRNewswire/ -- TIE/communications, Inc.
(AMEX: TIE), a major marketer of business communications products and services, has acquired the Atlanta installed customer base of Infocore, Inc.
Brian J. Kelley, TIE's executive vice president, said the company plans to merge the customer base into its Norcross, Ga., sales and service center. "The acquisition was attractive to TIE because it strengthened our presence in the dynamic Atlanta marketplace, and TIE already services many of the types of key systems and Mitel PABX's which are in the base," Kelley said. TIE is a Mitel Elite dealer and is one of the few distributors of that high-quality PABX product line with a North American presence. "The goal of our expansion program which began last fall is to position TIE so that it can become the premier supplier of business communication value-added systems and products. So far during this period, TIE has purchased customer bases and related assets in 12 states," said Kelley. TIE's 68 North American branch offices -- 56 in the United States and 12 in Canada -- support about 122,000 continuing service customers. The company has recently announced a series of product and service enhancements, including introduction of an expanded line of System 4002 and 5002 Plus voice mail equipment and On Hold Marketing Services. TIE also offers a broad line of all-digital telephone systems, LAN/WAN, PC management services, long-distance products, customized security services and other business communications products and services. Following a series of product and service enhancements, the company recently reported second quarter net income of 6 cents a share, its most profitable quarter from operations since the fourth quarter of 1984. "The strategy we adopted of acquiring and exchanging customer bases has significantly enhanced the strength and presence of TIE in North America," stated George N. Benjamin, III, president and chief executive officer of TIE. TIE is a member of the Marmon Group of companies, an international association of more than 60 autonomous manufacturing and service companies with annual sales of nearly $4 billion. TIE shares are traded on the American Stock Exchange. -0- 9/17/92 R /CONTACT: George N. Benjamin, III, 203-888-8001, or Brian J. Kelley, 203-888-8006, both of TIE/communications/ (TIE) CO: TIE/communications, Inc.; Infocore, Inc. ST: Connecticut, Georgia IN: TLS SU: TNM
AH-PS -- NY029 -- 0680 09/17/92 13:06 EDT
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|Date:||Sep 17, 1992|
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