AT&T Acquires Assets of NorthPoint Communications
NEW YORK – AT&T today confirmed it has signed an agreement to acquire substantially all of the assets of NorthPoint Communications. The United States Bankruptcy Court today approved the agreement valued at approximately $135 million.
The acquisition includes all of NorthPoints co-locations nationwide, certain network equipment, systems and support software and related assets, including two leased buildings in Emeryville, Calif.
We are delighted to be acquiring NorthPoint’s DSL assets, said Robert M. Aquilina, co-president of AT&T Consumer. They will help us in our efforts to move aggressively to bring the full benefits of DSL to consumers and businesses. These benefits include high-speed Internet access, local and long distance calling, and exciting broadband services, including virtual private networks, among other possibilities, in the future.
The transaction closing is subject to regulatory approval and other conditions and is anticipated to be completed within 60 days.
Lehman Brothers acted as AT&Ts financial adviser in this transaction.
AT&T (www.att.com) is among the worlds premier voice, video and data communications companies. With 2000 revenues of more than $65 billion and 160,000 employees, AT&T provides services to customers worldwide.
The foregoing are “forward-looking statements” which are based on managements beliefs as well as on a number of assumptions concerning future events made by and information currently available to management. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside AT&Ts control, that could cause actual results to differ materially from such statements. For a more detailed description of the factors that could cause such a difference, please see AT&Ts filings with the Securities and Exchange Commission. AT&T disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This information is presented solely to provide additional information to further understand the results of AT&T.
For more information, reporters may contact:
June Rochford – AT&T
Mark Siegel – AT&T