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INFOTECH TO JOIN VS&A COMMUNICATION PARTNER; TELECOM RESEARCH & CONSULTING FIRM SOLD AS PART OF PBI TRANSACTION October 13 - Mergers PARSIPPANY, NJ, October 13, 2000 - InfoTech Consulting, Inc. - also known as PBI Media - Phillips InfoTech -- a global consulting and research firm dealing exclusively in telecom and information technology, today announced that it will join New York's VS&A Communications Partners, the private equity affiliate of media industry merchant bank Veronis Suhler. VS&A Communications Partners acquired Phillips Business Information, Inc., of which InfoTech was a subsidiary, from Phillips International in a transaction valued at $110 million. "By joining VS&A, InfoTech will be better positioned to serve the needs of its diverse and growing client base," said Alan Mendelson, chief executive officer of InfoTech, based here. "With this transaction, InfoTech will be joined with VS&A's leadership, capital and far-reaching network of affiliate companies. " According to Mendelson, InfoTech will retain all its offices and personnel. "Short-term changes will be negligible," he said, "but long-term, we anticipate this transaction to provide the foundation upon which InfoTech can expand its scope of products and services, particularly in the areas of conferences and expositions." InfoTech (www.accessintel-infotech.com), a global professional services company with offices in Parsippany, NJ, Cherry Hill, NJ, Rockville, MD, Detroit, MI, and affiliates in Europe and Asia, specializes in market intelligence for the telecommunications and information technologies industries. In addition to conducting primary research studies, the company offers a comprehensive range of professional services, including custom consulting, InfoTracksm and TelecomTacticssm database products, professional conferences and expositions, market and competitive intelligence analyses and custom marketing programs. InfoTech counts among its clients Avaya (NYSE:AV), Lucent Technologies (NYSE: LU), GTE Corporation (NYSE:GTE), Siemens, Nortel Networks (NYSE: NTE), IBM, (NYSE: IBM), and AT&T (NYSE:T). Phillips Business Information, Inc. (www.accessintel.com/pbi), a subsidiary of Phillips International, Inc., provides a broad range of business information resources for executives in specialized industries including telecommunications, media, aviation, aerospace, satellite and energy. Veronis Suhler, based in New York, is a leading independent merchant bank dedicated exclusively to the media, communications, and information industries. Since its formation in 1981, the firm has acted as a financial advisor across the full spectrum of media industry segments including Broadcasting, Cable & Entertainment; Newspaper Publishing; Consumer Magazines; Business Information Services; Consumer, Professional & Educational Books; Business-to-Business Communications; Specialty Media & Marketing Services; and the Internet. VS&A Communications Partners, LP (the private equity affiliate of Veronis Suhler) has managed three private equity funds since its formation in 1987, which have acquired more than 20 portfolio companies in the media, communications, and information industries. Its third fund, VS&A Communications Partners III, LP, capitalized at $1.0 billion, is the largest private equity fund dedicated exclusively to investments in the media, communications, and information industries. |
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