Attached files
file | filename |
---|---|
8-K - FORM 8-K - TOLLGRADE COMMUNICATIONS INC \PA\ | l42665e8vk.htm |
Exhibit 99.1
NEWS RELEASE |
Contact: Greg Nulty, Corporate Communications / Office: 724 720 1465
Tollgrade Shareholders Approve Merger
Cranberry Township, PA, May 6, 2011 Tollgrade Communications, Inc. (Tollgrade or the
Company) (NASDAQ: TLGD) today announced that at a special meeting held on May 5, 2011, its
shareholders approved a definitive merger agreement with affiliates of Golden Gate Capital.
Under the terms of the merger agreement, upon the closing of the transaction contemplated by the
merger agreement, each shareholder will receive $10.10 in cash per share. Pending satisfaction of
other customary closing conditions, the transaction is expected to close in the next week, at which
time Tollgrades common stock will cease trading.
About Tollgrade
Tollgrade Communications, Inc. is a leading provider of network assurance solutions for the
telecommunications and utilities industries. Tollgrades telecommunication products and solutions
enable communication service providers to efficiently manage their access networks in an age of
increased competition, continually evolving technology, and ongoing pressure to reduce costs while
its real-time Smart Grid Monitoring solutions allow utility customers to continuously detect key
circuit parameters, and communicate mission critical data wirelessly to a central location to
provide Continuous Grid Intelligence. For more information, visit Tollgrade online at
www.tollgrade.com.
Forward-looking Statements
This press release contains forward-looking statements. Statements that are not historical facts,
including statements about beliefs or expectations, are forward-looking statements. These
statements are based on plans, estimates and projections at the time the Company makes the
statements and readers should not place undue reliance on them. Forward-looking statements involve
certain risks and uncertainties that could cause actual results to differ materially from those
described in such statements, including the risk that the proposed merger does not occur, the
expected timing of the completion of the merger, the ability of the parties to satisfy the
conditions to closing of the merger and other risks as identified in the Companys various filings
made with the SEC periodically, particularly its most recent Annual Report on Form 10-K, which
contains and identifies important factors that could cause the actual results to differ materially
from those contained in the forward-looking statements. The Company assumes no obligation to
update any forward-looking statement contained in this document.
# # # #
TOLLGRADE COMMUNICATIONS, INC.
3120 Unionville Road, Suite 400, Cranberry Township, PA 16066 / 724-720-1400 / 800-878-3399 / Fax: 724-720-1530
www.tollgrade.com
3120 Unionville Road, Suite 400, Cranberry Township, PA 16066 / 724-720-1400 / 800-878-3399 / Fax: 724-720-1530
www.tollgrade.com