BROKEN ARROW, OK – XETA Applied sciences (NASDAQ: XETA) introduced immediately that it has acquired the PBX enterprise of Hitachi Telecom (USA), Inc. (“HITEL”) in an settlement efficient Could 5, 2006. Underneath the phrases of the settlement, XETA will fulfill HITEL’s remaining obligations below HITEL’s Licensed Distributor Agreements, which cowl all assist for HITEL’s HCX5000 PBX programs, together with service, technical assist and the availability of components.
The acquisition worth included the idea by XETA of the remaining obligations. To make sure a seamless transition for the advantage of distributors, HITEL has supplied a transition charge to XETA and can present transition providers. The acquired enterprise is anticipated to generate future income for XETA within the type of technical assist charges, software program upgrades and components gross sales.
“XETA has been a really robust, full-service HITEL distributor for 13 years,” mentioned Greg Forrest, President and COO of XETA. “We’re delighted to have the ability to broaden our function to work with all HITEL distributors by persevering with to offer distinctive assist of HITEL’s PBX merchandise, and we’re dedicated to sustaining the excessive customary of service that HITEL has established through the years.”
XETA will probably be prepared to debate the acquisition at its second quarter earnings convention name scheduled for Could 25, 2006, particulars of which will probably be included within the second quarter press launch to be issued on Could 24, 2006.
About Hitachi Telecom (USA), Inc.
Hitachi Telecom (USA), Inc., a subsidiary of Hitachi America, Ltd., develops, manufactures and markets telecommunications gear for the North American market. The corporate presents ITU-compliant triple-play programs for fiber-to-the-premises functions and ultra-broadband optical networking gear akin to DWDM and SONET programs. For extra details about Hitachi Telecom (USA), Inc., go to www.hitachitelecom.com.
About XETA Applied sciences
XETA Applied sciences is a number one supplier of enterprise-class communication options, installations and providers within the rising and extremely technical world of converged communication options for voice and information functions. XETA has gross sales and repair factors all through the nation. XETA is likely one of the largest suppliers of Avaya voice and information communications options and has lately added the Nortel voice and information product line. XETA markets a variety of proprietary name accounting programs for the hospitality business and has lengthy been acknowledged because the main supplier of name accounting options for this business. Extra details about XETA (NASDAQ: XETA) is out there at www.xeta.com
“This press launch incorporates forward-looking statements that are topic to the provisions of the Personal Securities Litigation Reform Act of 1995. Such statements embrace statements relating to expectations relating to the era of future earnings. These and different forward-looking statements (typically recognized by phrases akin to “expects”, “plans”, “believes”, “possible”, “expects” and comparable phrases or expressions) mirror administration’s present expectations, assumptions and beliefs based mostly on data at the moment out there to administration.Traders are cautioned that each one forward-looking statements are topic to sure dangers and uncertainties that are troublesome to foretell and which might trigger precise outcomes to vary materially from these projected. dangers are described in Merchandise 1.A entitled “Danger Components” contained in Half I of Kind 1 0-Ok of the Firm for its fiscal yr ended October 31, 2005, and in subsequent filings of the Firm’s Kind 10-Q.”
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