MICROAGE, INC. COMPLETES THE SALE OF THE ASSETS OF ITS MICROAGE TELESERVICES BUSINESS
January 3, 2001
On November 21, 2000, MicroAge, Inc. completed the sale of the assets of its MicroAge Teleservices business to UPS Telecommunications, Inc., a subsidiary of United Parcel Service (UPS). Under the agreement, UPS Telecommunications paid MicroAge, Inc. $11.5 million for the assets of Teleservices. Conway, Del Genio, Gries & Co. served as advisors in this transaction. MicroAge and certain of its subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the Bankruptcy Code on April 13, 2000. MicroAge Teleservices, originally excluded from the filing, filed a voluntary Chapter 11 petition on September 29, 2000 in order to facilitate the sale of its business. MicroAge Teleservices supplies its clients with a wide range of inbound and outbound call center services, including technical support services. UPS was the company’s primary client for customer technical call center services. For further information, please contact Robert A. Del Genio of Conway, Del Genio, Gries & Co., LLC, a firm specializing in corporate finance advisory services with a focus on restructurings and mergers and acquisitions. Mr. Del Genio’s telephone number is (212) 813-1300.