YOU ARE AT:Archived ArticlesNETWORK USA PURCHASES PAGING FIRM FOR $10M

NETWORK USA PURCHASES PAGING FIRM FOR $10M

NASHVILLE, Tenn.-Network USA Paging Corp. signed a letter of intent to buy Page East Inc. of North Carolina for $10.9 million. The agreement includes the right to acquire the paging assets of Coastal Carolina Communications Inc. Together, the two companies would contribute 18,500 paging and voice mail customers. The final acquisition price is subject to upward adjustment and will be based on Page East and Coastal Carolina Communications’ 1995 cash flows.

Nashville, Tenn.-based A+ Communications Inc. signed a definitive merger agreement with Network USA of Pensacola, Fla., in June. The deal, pending shareholder and regulatory approvals, is expected to be completed later this year. The combination will be renamed A+ Network Inc. and boast 478,000 pagers and voice mail units in service, said A+.

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