Press Release
FOR IMMEDIATE RELEASE
Verso Technologies Acquires sentitO Networks
Bowen Advisors Serves as Strategic Advisor to sentitO; Transaction Marks Boutique M&A Firm's Seventh Deal in Last 12 Months
Boston, MA (April 5, 2007) — Bowen Advisors, a leading strategic advisory, mergers and acquisitions firm for communications technology companies, today announced its latest transaction — Verso Technologies, Inc. (Nasdaq: VRSO), a global provider of next generation network solutions, has reached a definitive merger agreement to acquire sentitO Networks, an award-winning provider of open and distributed VoIP gateway solutions for telecommunications service providers worldwide. The acquisition is subject to approval of Verso's secured lenders and senior convertible debenture holders and sentitO's stockholders.
"This acquisition provides Verso with the opportunity to leverage the core strengths of sentitO: its product portfolio, its growing international footprint in Eastern Europe and Russia and its management team and investors," said Paul Bowen, President of Bowen Advisors. "The deal immediately improves Verso's market position due to a strong commitment by sentitO's investors and the combined strengths of sentitO and Verso's product portfolios that enables Verso to offer carrier customers a scalable, high density, integrated IP edge switching solution at a very compelling price point."
Bowen Advisors, retained in December 2006 by sentitO's board to provide strategic advisory and M&A services for the company, served as the exclusive financial advisor in the transaction. This marks the second deal in 2007 for the boutique mergers and acquisitions firm and its seventh transaction in the last year.
For more information on Verso Technologies' acquisition of sentitO Networks click here.
About Verso Technologies: Verso is a global provider of next generation network solutions offering a core-to-edge product portfolio primarily for telecommunications service providers. The companyÕs products enable its customers to secure and optimize network bandwidth, generate additional revenue and reduce costs. VersoÕs applications and services are cost effective, deploy quickly and provide a superior return on investment. For more information, contact Verso at www.verso.com or call (678) 589-3500.
About sentitO Networks:
sentitO Networks is a leading provider of open and distributed VoIP gateway solutions for telecommunications service providers worldwide. Its award-winning Open Network Xchange (ONX) architecture enables new, innovative voice services by providing media and signaling conversion utilizing state-of-the-art SIP technology. sentitO is a privately held company with headquarters in Acton, MA. More information can be found at the company website: www.sentitO.com.
About Bowen Advisors:
Bowen Advisors is a mergers and acquisitions advisor focused exclusively on the communications technology market. We combine deep domain expertise in the sector gained from "line" experience holding senior management positions at communications technology companies blended with extensive transaction experience. Bowen AdvisorsÕ combination of singular focus and field proven expertise in finance and direct operations sets us apart. Our clients find our approach unique and critically valuable as they explore ways to maximize their growth potential and create value for their shareholders. Bowen Advisors was incorporated in 2002 and has its principle offices in Boston and San Francisco. Web site: www.bowenadvisors.com.
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