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April 1, 1996


By CBR Staff Writer

Syntellect Inc, voice information processing technology and applications provider, has announced shareholder approval of its merger with Pinnacle Investment Associates Inc, the parent company of Telecorp Systems Inc. Telecorp became a wholly-owned subsidiary of Syntellect immediately following shareholder meeting on March 14. Phoenix, Arizona-based Syntellect acquired the company as part of its strategy to provide a one-stop-shop to its customers. Telecorp Systems dominates the US cable pay television market with over 60% market share. It provides telecommunications to media-based industries, cable television and newspapers. Its services include inbound interactive voice response systems for pay-per-view order processing and predictive dialing for outbound telemarketing and collections efforts. Syntellect hopes the merger will strengthen its business relations through its longstanding partnership network, with companies that include ICL Plc and Mercury Communications Plc, and establish the company as a major force within the call center market. Alasdair Yuill, managing director of Syntellect Europe Ltd said the merger is a key move for Syntellect in allowing us to provide customers with total solutions and not just products. The move will allow Syntellect to provide a wider product offering and, more importantly, enhance our international solution capabilities, he said. Lawrence Bradner has assumed the positions of chairman of the board and chief executive of Syntellect. Steve Nussrallah is president of the company and a member of its board of directors. Pinnacle’s shareholders received 1.15 shares of Syntellect common stock for each Pinnacle common share equivalent held by them. This translates to approximately 4.7m shares of Syntellect common stock, about 38% of Syntellect’s outstanding common stock on a post-merger basis.

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