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Wednesday, April 28, 1999

Preferred Networks to sell paging subsidiary

Atlanta Business Chronicle

Atlanta-based Preferred Networks Inc., a provider wireless services, will sell its subsidiary, Preferred Technical Services Inc. An affiliate of Saratoga Partners, a New York-based merchant bank, will pay $55 million for Preferred Technical Services. The company will pay $4 million in cash and provide maintenance services to Preferred Networks' paging networks. The sale is scheduled to close during the second quarter of 1999. Preferred Technical Services provides wholesale paging network services and technical support.


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