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May 29, 1997updated 05 Sep 2016 12:38pm


By CBR Staff Writer

The proposed merger between the Videoconferencing twins, VTEL Corp and Compression Labs Inc announced in January (CI 3,074), has been given the thumbs up by both companies’ share holders. The new company will remain under the VTEL name, with Compression Labs’ stock holders receiving 8.4 million shares in the new company, giving them a 37% stake. The company’s head office will remain in Austin, Texas. VTEL now claims to be the second biggest supplier of videoconferencing systems with an installed base of 22,000 units and projected revenue of $200m per annum.

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