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Carter Ledyard & Milburn LLP
CARTER, LEDYARD & MILBURN REPRESENTS SPECTEL IN ITS ACQUISITION OF MULTILINK
--Irish company expands U.S. operations--
New York, NY, December 21, 2000 - Carter, Ledyard & Milburn advised Spectel in its $30 million acquisition of MultiLink Inc.'s assets from PictureTel Corporation. The transaction, valued at $30 million, consists of $26 million in cash, and $4 million of Spectel common stock. Spectel's strength in Europe and Asia-Pacific, and MultiLink's presence in North America, will enable Spectel to become a major global player in the industry.
Dublin-based Spectel (www.spectelglobal.com), is a global provider of voice-data conferencing solutions. The company introduced to the market the world's first fully integrated Web portal voice and data conferencing system for use by service bureaus, carriers, local exchange carriers, new generation carriers, application service providers and enterprise customers.
MultiLink Inc., is a Massachusetts-based leading developer of multipoint teleconferencing systems, and former subsidiary of PictureTel, a Massachusetts-based designer of videoconferencing systems. The world's leading service providers, Fortune 1000 corporations, consulting firms and federal, state and local government agencies have utilized MultiLink's conferencing solutions.
Carter, Ledyard & Milburn attorneys involved in the transaction are corporate partner Alan J. Bernstein and associates Renita M. Jolley and Sergio M. Alegre.
Carter Ledyard & Milburn LLP (www.clm.com), established in 1854, has approximately 90 attorneys and has been headquartered on Wall Street since its founding. Carter Ledyard's general practice includes corporate, securities, mergers and acquisitions, broker-dealer, on-shore and off-shore hedge and other alternative investment funds, private equity, litigation, intellectual property, environmental, employment, media and technology, immigration, investment regulation, antitrust, art law, trusts and estates, maritime, ERISA, tax-exempt organizations, real estate, tax and bankruptcy. A significant part of the firm's practice involves representing overseas-based clients and their U.S. affiliates, financial institutions and other financial services providers, governmental entities and media and technology clients.
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