Zwick Appointed as Senior Vice President of Business Development to Focus on M&A
CHICAGO, Aug. 9, 2011 (GLOBE NEWSWIRE) -- Neutral Tandem, Inc., (NASDAQ:TNDM, news, filings), a leading provider of global interconnection services, announces the addition of David Zwick to its management team as the company's Senior Vice President of Business Development. David will play a key role, focusing on the company's merger and acquisition (M&A) strategy.
Mr. Zwick brings 13 years of M&A experience in the telecommunications industry to Neutral Tandem. As a senior investment banker at Lehman Brothers and Barclays Capital, he advised clients on more than $85 billion of successful M&A transactions in the telecom sector globally. David began his investment banking career with Lehman Brothers and was based in New York for 11 years. For the most recent two years, he was based in Hong Kong and played a leadership role to build a communications & media investment banking group in Asia-Pacific for Barclays Capital. Mr. Zwick holds a Bachelor's degree with honors in Finance from the University of Illinois and earned an MBA from Northwestern University's Kellogg School of Management.
"David will be instrumental in executing Neutral Tandem's M&A strategy," states Ed Evans, CEO of Neutral Tandem. "As a veteran of some of the largest and most complex M&A transactions in the telecom industry, his proven and global experience will aid Neutral Tandem in developing and implementing a cohesive, strategic plan. I am delighted that David has joined us."
"Neutral Tandem presents an attractive opportunity for me to contribute to a company that is well positioned to transform the industry," adds David Zwick, Sr. Vice President of Business Development for Neutral Tandem. "I am looking forward to working together with the executive team to bring Neutral Tandem to the next level." Mr. Zwick joined Neutral Tandem effective August 1, 2011, reporting to Mr. Evans. To find out more about Neutral Tandem's global products and services, visit www.neutraltandem.com
Cautions Concerning Forward Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical fact, included in this press release regarding Neutral Tandem's strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management are forward-looking statements. The words "anticipates," "believes," "expects," "estimates," "projects," "plans," "intends," "may," "will," "would," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward‑looking statements we make. Factors that might cause such differences include, but are not limited to: our ability to locate suitable acquisition candidates; our ability to successfully complete suitable acquisitions or that any acquisitions we do complete may result in increased costs or liabilities or be disruptive to our business; risks that any acquisition may negatively affect our cash position and that we may be unable to raise additional cash on acceptable terms or at all; risks associated with integrating any acquired company; and other important factors included in our reports filed with the Securities and Exchange Commission, particularly in the "Risk Factors" section of our Annual Report on Form 10-K for the period ended December 31, 2010 and Quarterly Report on Form 10-Q for the period ended March 31, 2011, as such Risk Factors may be updated from time to time in subsequent reports. Furthermore, such forward-looking statements speak only as of the date of this press release. We undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.
About Neutral Tandem, Inc.
Headquartered in Chicago, Neutral Tandem, Inc. provides voice, data and video interconnection services worldwide. Neutral Tandem recently acquired Tinet, a global carrier focused on the IP Transit and Ethernet wholesale market. The acquisition combines Neutral Tandem's interconnection services for wireless, wireline, cable and broadband companies with Tinet's global IP backbone. Collectively, Neutral Tandem provides voice, IP Transit and Ethernet solutions to carriers, service providers, and content management firms worldwide. With over 100 Ethernet sites, the company is now the largest global Ethernet interconnection provider, a top 10 global IPv4 backbone provider and has a leading IPv6 network. Please visit Neutral Tandem's website at www.neutraltandem.com and follow us on Twitter@NeutralTandem.
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CONTACT: Media Contact: Jaymie Scotto & Associates Ilissa Miller 1-866-695-3629 firstname.lastname@example.org Investor Contact: Neutral Tandem, Inc. Jim Polson 1-866-268-4744