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S » Topics » 10. Sale of Conferencing Operation

This excerpt taken from the S 10-Q filed Aug 8, 2005.

10. Sale of Conferencing Operation

 

In June 2005, Sprint sold its Long distance segment conferencing operation for approximately $207 million to InterCall, Inc. Sprint will remain involved in the activities of this operation for a period of time through billing and collection services, marketing efforts to obtain consents from its customer base to transfer their business to InterCall and efforts to allow InterCall to enter separate conferencing agreements with Sprint’s customers. Certain assets were transferred to Intercall and a limited duration non-compete agreement was signed. Most of the benefit from this transaction has been deferred and will be recognized over the two year period during which Sprint expects to provide transitional services.

 

 

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