Tuesday, April 19, 2005
Black Box Corporation Announces Merger
With GTC Technology Group, Inc.
GTC Technology Group, Inc. represents approximately
$7 million of historical Voice Services annual revenue
PITTSBURGH, PENNSYLVANIA, April 19, 2005 - Black Box Corporation (NASDAQ: BBOX) today announced a merger with GTC Technology Group, Inc. (GTC).
GTC is a privately held corporation founded in Ft. Myers, Florida by Russ Arpasi in 1998. GTC has an active customer base that includes commercial, education, health care and various government agency accounts. Annual revenues of GTC were approximately $7 million for the 12 months ended December 31, 2004. Technology Supply, Inc., a related company that supplies equipment for certain projects, also was included in this deal.
Mr. Arpasi, who will remain active in the company, commented “We are excited about joining the Black Box family. As a Black Box Company we will have access to product and technical support not available to us before. This will be a direct benefit to our present and future clients.”
Commenting on the merger, Gary Williams, General Manager of Black Box Voice Services, stated: “We welcome the additional pro-sound, voice and data services in this high growth area of Florida. GTC is a strong addition to the Black Box team, which is dedicated to providing high quality services to our clients.”
This transaction is being accounted for as a purchase. The purchase price has not been disclosed.
Black Box is the world’s largest technical services company dedicated to designing, building and maintaining today's complicated data and voice infrastructure systems. Black Box services 152,000 clients in 141 countries with 122 offices throughout the world.
Black Box and the double diamond logo are registered trademarks of BB Technologies, Inc.
Black Box Corporation