Telecorp Inc.
Prime Capital Fund LLC – US private equity firm invests in Telecorp Inc.
Telecorp Inc. / Key word(s): Agreement/Private Equity Prime Capital Fund LLC – US private equity firm invests in Telecorp Inc. Cheyenne, Wyoming, 24 March 2011 – Telecorp. Inc., a company listed in the Open Market (Freiverkehr) segment at the Frankfurt stock exchange, will receive an injection of fresh funds in the amount of EUR10 million for further imminent acquisitions in the area of IT services (SaaS and CRM) that form the company's core business. As part of a Standby Equity Purchase Agreement ('SEPA'), Telecorp Inc. will receive EUR10 million in equity capital, provided by the New York-based private equity firm Prime Capital Fund LLP ('PCF'). Telecorp Inc. is one of the most innovative telco suppliers and IT service providers in this highly dynamic market segment worth billions of dollars. The new shares will be issued for the further expansion of the company's investment and acquisition strategy, enabling Telecorp Inc. to consolidate its highly dynamic growth, as well as the integration of services, even more rapidly. The transaction will be carried out in the form of a standby equity purchase agreement. For Telecorp Inc., the new investor is its preferred candidate. 'We are gaining a shareholder who can provide us with comprehensive expertise thanks to its strategic relationships within the market. Particularly at this juncture, when we are integrating other businesses and experiencing high growth rates, strategic shareholders are important to carry through consolidation without any mistakes or loss of time,' said Paul Phillips, CEO of Telecorp Inc. The increase in capital guarantees that Telecorp Inc.'s business model will be developed further on a solid financial foundation, thereby realising profitable investment opportunities within the market in the best interest of its shareholders. PCF's Managing Director, Joseph B. LaRocco, said: 'For us, this agreement represents a strategic investment in a dynamic market segment. By investing in Telecorp Inc., we are supporting a growth-oriented company with outstanding management credentials.' For more information on Telecorp Inc., please visit www.telecorp.com.
Contact: Prime Capital Fund LLC, Joseph B. LaRocco, Phone: +1 203-599-1928
About Prime Capital Fund, LLC Prime Capital Fund, LLC (PCF) is a private fund, headquartered in New York, that assists private and public companies with their short and long term funding needs. The PCF Team has years of experience in the fields of international corporate finance, hedge fund portfolio management and structured finance. Depending on the complexity of the transaction, the fund is usually able to act quickly to handle due diligence, structuring of the transaction and funding. PCF provides private and public companies with a number of funding options. Although the preferred structure is the Standby Equity Purchase Agreement (SEPA), PCF also considers funding through convertible debentures, shareholder structured stock sales, common stock with resets, warrants and other structures. The PCF Team works with companies on a global basis and is interested in all industry sectors, but prefers medical services, equipment and technology, pharmaceuticals, mining/natural resources, renewable energy, clean energy and technology, environmental, retail, manufacturing, communications and entertainment..
About Telecorp Inc. Telecorp is a growing provider of communication solutions to many companies and industries including, automotive, real estate, financial, health, charities, and many more. Telecorp offers creative and software solutions for communicating with our client's customers at levels never seen before. A total solution that is not only affordable, but indispensable for any business, no matter the size. Telecorp's modules allow the best marketing tools, first rate sales acquisition systems, customer communication processes, drive greater profitability from every interaction and allow every user to reduce costs and increase productivity at every use. The company's integrated suite of customized solutions includes customer acquisition, customer care, automated voice services, emergency communications, conferencing, data management, webinars, customer and hardware support tools, e-mail, fax and text broadcast messaging, direct to voice mail messaging, customized voice messaging, text to speech systems, predictive and progressive dialing, contact management solutions and much more. Founded in 2006 in Cheyenne, Wyoming USA. Telecorp has a team of employees based in North America, Central America, Australia and Europe.
This release includes forward looking statements, which are based on certain assumptions and reflects management's current expectations. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
Press Contacts
Telecorp Inc. Phone: 1-307-459-4022 End of Corporate News 24.03.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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