fbpx

GoAmerica Amends Agreement with MCI

GoAmerica, Inc., a Hackensack-based provider of communications services for people with hearing or speech difficulties, today announced that it is amending its asset purchase agreement with MCI Communications Services, Inc.GoAmerica, Inc. (Nasdaq: GOAM), a Hackensack-based provider of communications services for people with hearing or speech difficulties, today announced that it is amending its asset purchase agreement with MCI Communications Services, Inc.

The agreement, which was made in August, relates to GoAmerica’s acquisition of Verizon’s Telecommunications Relay Services (TRS) division. MCI, which was acquired by Verizon in 2006, had previously owned the TRS division.

The amendment extends the termination date of the asset purchase agreement to Jan. 10. The change also requires GoAmerica to increase its deposit from $1 million to $2 million and reduces its cash payment at closing by $4 million. The extension and amendment also allows GoAmerica to release MCI from certain potential claims that could arise under the purchase agreement.

Shares of GoAmerica were at $5.34 in early Wednesday afternoon trading.

NJBIZ Business Events

General Counsel Awards 2020

Wednesday, August 12, 2020
General Counsel Awards 2020

ICON Honors Awards Program 2020

Tuesday, August 18, 2020

Best Places to Work 2020

Thursday, September 17, 2020
Best Places to Work 2020