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November 12, 2010

Primus Telecommunications to acquire Arbinet

Access additional networks and termination routes at competitive rates

By CBR Staff Writer

Arbinet, a provider of telecommunications services, has signed a definitive agreement to be acquired by Primus Telecommunications (Primus), a global facilities-based integrated provider of advanced telecommunications products and services in a stock-for-stock merger transaction.

Under the terms of the merger agreement, Arbinet common shareholders will receive shares of Primus common stock in exchange for the Arbinet common stock they own.

The total transaction is valued at an aggregate value of approximately $28m.

Primus said that the combined company is expected to allow wholesale customers to access additional networks and termination routes at competitive rates.

In addition, the combined company will also have a diversified product portfolio of international voice and data services across all wholesale customer segments.

Primus chairman, president and CEO Peter Aquino said with the combined carrier services platforms and additional global reach through Arbinet’s Exchange, Primus gains access to additional traffic streams, better routes for termination of voice traffic and the ability to manage multiple segments of carrier customers.

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The company said that based on the companies’ current capitalisation, Arbinet shareholders will be expected to own approximately 23% of the combined company, and Primus shareholders will be expected to own approximately 77% of the combined company upon the closing of the transaction.

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