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Deal Off for GoAmerica Merger

Around the State – North JerseyHACKENSACK Struggling GoAmerica, a provider of wireless and Internet relay services for the deaf and hearing impaired, has declared its merger deal with Hands On to be off. GoAmerica’s stock price fell last Wednesday, the day after the announcement, to a new 52-week low of $3.39.

GoAmerica said last July it would merge with Hands On, a California provider of video-relay and interpreter services for the deaf and hearing impaired. Hands On, a privately held company, would have become a subsidiary of GoAmerica had the deal gone forward.

GoAmerica’s shareholders were in favor of completing the deal and Hands On shareholders approved the merger last month. But Hands On this month sent a letter to terminate the deal. GoAmerica is asking Hands On for repayment of $600,000 it gave the California company as a short-term loan. GoAmerica says it will evaluate other ways to enter the video-relay services market.

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