[March 21, 2007] tel(x) Acquires the NYC Connect Meet Me Room at 111 Eighth Avenue, NYC Tweet NEW YORK, March 21 /PRNewswire/ -- tel(x), the premier operator of network meet-me interconnection facilities in the United States, announced today the acquisition of the Meet Me Room assets of NYC Connect, LLC, widely considered to be the Meet Me Room of 111 Eighth Avenue in New York City. Signal Hill advised NYC Connect in conjunction with this transaction, which will enable tel(x) to provide customers with state-of-the-art, fully-managed Meet Me Room environments for establishing core network interconnections at multiple New York City locations. The NYC Connect employees, including Co-founder and COO Tesh Durvasula, will transition over to tel(x) and work closely with the existing tel(x) team to ensure a seamless integration. Spanning 2.9 million square feet, 111 Eighth Avenue is largely acknowledged as the premier technology building in New York City. Originally known as the Port Authority Commerce Building when it was built in 1932, 111 Eighth Avenue is ideal for its impressive technology tenants such as Google, Sprint, Level 3 and Doubleclick due to its tremendous electrical and emergency electrical power capacity, cooling infrastructure and security. The NYC Connect Meet Me Room facility stands alongside the original tel(x) facility at 60 Hudson Street as New York City's most important network interconnection points. With this acquisition tel(x) will operate 13 Meet Me Room and Core Interconnection Facilities in 9 states nationwide, making it the largest Meet Me Room operator in the world. tel(x) executives view the acquisition, which has merged two of the richest interconnection points in the nation, as a major step towards being able to offer the highest-caliber Meet Me Room operation worldwide. "Defining the standard for Meet Me Room operations has been a longstanding mission of tel(x), so owning the Meet Me Room in a premier facility like 111 Eighth Avenue in a market with one of the strongest demands for interconnection services in the world is very positive for us," said tel(x) CEO Eric Shepcaro. "Tesh and his team at NYC Connect have built a fantastic business bolstered by excellent customer service, and we're looking forward to leveraging the 'best of breed' of both companies to provide an unparalleled experience for our customers." "In executing this deal with tel(x) we immediately provide our customers a larger platform for their businesses," stated Tesh Durvasula, Co-Founder and COO of NYC Connect. "This deal will also produce benefits for current and future Meet Me Room participants by introducing them to the national tel(x) marketplace for interconnection services. We are pleased to join the tel(x) team and continue their tradition of world-class customer service in top-rated colocation facilities." About tel(x) tel(x) is the premier operator of telecom "meet me" network interconnection facilities in North America, with thirteen facilities nationwide. By providing a neutral marketplace for network services, tel(x) promotes, encourages and facilitates business opportunities between and among its carrier and enterprise clients. Known for its "best of class" facilities and customer support services, tel(x) strives to avail its customers of significant growth opportunities. tel(x) is a privately held company, headquartered in New York City, USA, with operations in Atlanta, Charlotte, Chicago, Dallas, Los Angeles, Miami, New York City, Phoenix, San Francisco, Santa Clara, and Weehawken. About NYC Connect NYC Connect created the first official Meet-Me-Room at NYC's premier technology building 111 Eighth Avenue in December 2002. NYC Connect's carrier-neutral colocation and private data center facilities deliver quality solutions for telecommunications carriers, ISP's, content providers, & Enterprise companies. NYCC allows users immediate access to an abundance of global networks. Our Cross Connection, Data Center, Peering & Helping Hands Services guarantee improved performance, reliability, security and reduced costs for your mission critical operations. By focusing on only a few core services, NYC Connect is able to provide superior support at a reasonable price. To learn more about these and other services, please visit http://www.nyc-connect.com/. About Signal Hill Signal Hill provides investment banking services, institutional brokerage, and equity research for small and mid-cap companies and their investors. Our focus includes companies in clean energy technologies, communications services and technologies, digital and traditional media, education and business services, and financial services. Signal Hill is headquartered in Baltimore, Maryland and has offices in San Francisco, California. For further information please visit our website http://www.signalhill.com/ or contact Linda Grinwis at 443-796-4004. The tel(x) Group, Inc. CONTACT: Megan Foley of The tel(x) Group, Inc.,+1-212-480-3300 ext. 2016, [email protected] Web site: http://www.telx.com/http://www.nyc-connect.com/http://www.signalhill.com/ [ Back To TMCnet.com's Homepage ]