CopperCom Gets Bought

CHICAGO and BOCA RATON, Fla. -- CopperCom, the company that is Liberating the Local Exchange, announced today that its acquisition by the Heico Companies has been completed. CopperCom and Heico entered into a definitive agreement on May 14, 2003 by which Heico would purchase a majority interest in CopperCom.

"Today marks an important milestone in the history of CopperCom," said Mike Myers, CopperCom chief executive officer and president. "Heico brings to CopperCom financial strength and stability, a key requirement for our service providers and their customers. In addition, Heico's industry breadth and business relationships will be important assets to CopperCom as we continue to deploy our next-gen switch and expand into new markets."

"Heico looks to acquire companies that exhibit above average opportunities for revenue and earnings growth coupled with a strong management team. We believe that Coppercom has excellent products and exceptional management and we are excited by their potential," said Michael Heisley, founder and chief executive officer of Heico. "Our two companies share a high-performance, customer-focused culture and we welcome CopperCom to the Heico group of companies."

The business will be a subsidiary of Heico, and will be called CopperCom, a Heico Company.

CopperCom, a Heico Company