Sorenson Announcement

qwerty123 · 09-26-2005, 12:21 PM

http://www.sltrib.com/business/ci_3057253

Firm strikes deal to acquire Sorenson

By Bob Mims

The Salt Lake Tribune

Golden Rauner, a private equity firm specializing in management buyouts and consolidations, has reached agreement to acquire Utah's Sorenson Communications.

In announcing the deal Friday, neither company would reveal specifics of the investment, other than to confirm the Chicago-based Golden Rauner will gain controlling stock interest in the privately-held Salt Lake City company. The investment is to close on Nov. 30.

James L. Sorenson Jr., the company's current CEO, will become a member of the new Sorenson Communications board. Chief Operating Officer Patrick Nola will be the new CEO of the company, which will retain all its employees, its name and its Utah headquarters.

"This is a very important part of our moving up to the next level," Sorenson said. "It will allow us to retire some debts, but it also is a very positive partnership. They like strong management teams like ours and don't try to micromanage them."

Founded in April 2000 by billionaire biotechnology inventor James LeVoy Sorenson and his son, James Jr., Sorenson Communications today is best-known for its services to the deaf community: Sorenson Video Relay Service (VRS), Sorenson IP Relay and the company's line of videophones.

The service allows hard-of-hearing callers to conduct live video relay services with the hearing through a sign-language interpreter. The company's IP Relay service extends text-based relay calls by the deaf through PCs or handheld devices to hearing telephone users.

"It is gratifying to find an equity partner that shares our vision and commitment to the deaf and hard-of-hearing community," Sorenson said of Golden Rauner. "The demand is there for the services, and this allows us to better grow to meet that."

Friday's announcement came just 10 days after the launch of Sorenson's IP Relay service center in South Jordan. The new deal will not affect plans announced earlier to create up to 750 jobs at the center by 2007; the facility currently employs about 150.

The company's popular, 2-year-old Video Relay Service, which employs about 1,800 interpreters at more than two dozen facilities nationwide, also will remain intact.

Golden Rauner, which reports having more $6 billion in capital, focuses its investments on business-to-business services and outsourcing, information technology, health care, education/training, transaction processing, marketing services and distribution and logistics enterprises.

Philip Canfield, a principal at Golden Rauner, said that acquiring Sorenson Communications gives his firm a market leader with leading-edge video communication technology solutions and high-quality interpreting services for deaf and hard-of-hearing individuals.

bmims@sltrib.com

About Sorenson Communications

The deal: Golden Rauner, a private equity firm, will gain controlling stock interest in the privately-held Sorenson Communications.

What will happen: The company will retain its name, its Utah headquarters and all its employees.

IP Relay: The new deal will not affect plans to create up to 750 jobs at the service center by 2007.

Video Relay Service: VRS will remain intact.

Sorenson name, location won't change

Nesmuth · 09-26-2005, 01:17 PM

That's interesting! I know GTCR Golder Rauner LLC as a credit collection giant. Makes me wonder big time over privacy issues. The big question is will GTCR Golder Rauner LLC use Sorenson Communications as their spies to go after a lot of bad debts held by members of the deaf communities?

Richard

09-26-2005, 01:27 PM

Quote:

Originally Posted by Nesmuth

That's interesting! I know GTCR Golder Rauner LLC as a credit collection giant. Makes me wonder big time over privacy issues. The big question is will GTCR Golder Rauner LLC use Sorenson Communications as their spies to go after a lot of bad debts held by members of the deaf communities?

Richard

Hmm, no wonder they will look into Sorenson customers' info and credit history...

Thanks Heavens, I am using I2EYES Dlink....

lovesorenson · 09-26-2005, 02:19 PM

Quote:

Originally Posted by mld4ds

Hmm, no wonder they will look into Sorenson customers' info and credit history...

Thanks Heavens, I am using I2EYES Dlink....

Sorry to say that we, the regular internet users, leave a lot of our info in the business world as the reason of the cookies and spywares, etc. Nothing to hide at all...

NightwarriorJin · 09-26-2005, 02:35 PM

Richard = Troller

09-26-2005, 02:42 PM

Quote:

Originally Posted by lovesorenson

Sorry to say that we, the regular internet users, leave a lot of our info in the business world as the reason of the cookies and spywares, etc. Nothing to hide at all...

I.E., they would read your Sorenson agreement with your signature. Therefore, they would read your credit history....

lovesorenson · 09-26-2005, 02:46 PM

Quote:

Originally Posted by mld4ds

I.E., they would read your Sorenson agreement with your signature. Therefore, they would read your credit history....

Same goes for you on Dlink agreement with your signature.

09-26-2005, 02:48 PM

Quote:

Originally Posted by lovesorenson

Same goes for you on Dlink agreement with your signature.

I have not heard anyone trying to purchase the VRS with Dlink? Do you hear anything news yet?

Lovesorenson, Good luck...

Dennis · 09-26-2005, 02:53 PM

Quote:

Originally Posted by Nesmuth

That's interesting! I know GTCR Golder Rauner LLC as a credit collection giant. Makes me wonder big time over privacy issues. The big question is will GTCR Golder Rauner LLC use Sorenson Communications as their spies to go after a lot of bad debts held by members of the deaf communities?

Richard

Oh, come on, I dislike Sorenson as much as the next person, but that is just absurd paranoia. Do you really think a holding company like GTCR is really spending millions of dollars to "spy on deaf people with bad debts?!"

Come on, Richard. Use some logic here. It's a good investment, as far as we can tell - until the FCC does something to make it unprofitable, GTCR is probably going to be raking in the dough.

Keep in mind, James Lee Sorenson is already rich, and now he's richer -- but is he sharing that wealth with the deaf people? Nope, and that's Sorenson for you.

deafclimber · 09-26-2005, 02:55 PM

qwerty123 · 09-26-2005, 03:03 PM

Quote:

Originally Posted by mld4ds

Hmm, no wonder they will look into Sorenson customers' info and credit history...

Thanks Heavens, I am using I2EYES Dlink....

your Dlink i2eyes tie into sorneson database servers, so if a company take over Sorenson communication, same thing. dlink vp days are numbered

richard=bigger troller

qwerty123 · 09-26-2005, 03:13 PM

Quote:

Originally Posted by mld4ds

I.E., they would read your Sorenson agreement with your signature. Therefore, they would read your credit history....

what make you say if i sign the sorenson agreement then they ll read my credit history with that takeover? boy, boy, you re so misjudged. take up some english remedial class

09-26-2005, 03:19 PM

Quote:

"This is a very important part of our moving up to the next level," Sorenson said. "It will allow us to retire some debts, but it also is a very positive partnership. They like strong management teams like ours and don't try to micromanage them."

Huh?..., I just check the GTCR Golder Rauner, LLC . 34 cocky young male executives and a snobblish lady are trying to control the Sorsenson VRS. That's why they might try to milk FCC's fund and hire low-paid VRS interpreters.

No wonder why old Sorenson team can not pay off the debt...

deafclimber · 09-26-2005, 03:25 PM

yea. an interpreter told me she overheard a director didn't want to hire an intelligent deaf worker in her dept at the center in atlanta because she thought he couldnt speak but he could sign. that was dirty wacko

...

lovesorenson · 09-26-2005, 04:07 PM

Quote:

Originally Posted by mld4ds

I have not heard anyone trying to purchase the VRS with Dlink? Do you hear anything news yet?

Lovesorenson, Good luck...

HOVRS and MCI

lovesorenson · 09-26-2005, 04:15 PM

Quote:

Originally Posted by qwerty123

what make you say if i sign the sorenson agreement then they ll read my credit history with that takeover? boy, boy, you re so misjudged. take up some english remedial class

Agree with you... mld4ds acts like Richard.

Dennis · 09-26-2005, 04:57 PM

Quote:

Originally Posted by lovesorenson

HOVRS and MCI

That doesn't make any sense. Huh?

The question asked by mld4ds wasn't understandable in the first place, but I assume he's asking if anyone is trying to buy out the D-Link VRSes. No one is buying or selling any other VRS on the market.

lovesorenson · 09-27-2005, 08:49 AM

Quote:

Originally Posted by Dennis

That doesn't make any sense. Huh?

The question asked by mld4ds wasn't understandable in the first place, but I assume he's asking if anyone is trying to buy out the D-Link VRSes. No one is buying or selling any other VRS on the market.

mld4ds sounds like who bought or took over VRS service so HOVRS is took over by GoAmericas and MCI by whatever company in India.

Did I understand you, mld4ds right ?

Dennis · 09-27-2005, 01:40 PM

Quote:

Originally Posted by lovesorenson

mld4ds sounds like who bought or took over VRS service so HOVRS is took over by GoAmericas and MCI by whatever company in India.

Did I understand you, mld4ds right ?

The HOVRS / GoAmerica merger has no affect on D-Link DVC-1000 i2eye videophones.

The MCI / vCustomer merger has no affect on D-Link DVC-1000 i2eye videophones.

They ARE 2 of the many VRS companies who do PROVIDE D-Link DVC-1000 videophones.

But no companies who "purchase the VRS with Dlink?" It just didn't make any sense to me.

lovesorenson · 09-27-2005, 03:15 PM

Quote:

Originally Posted by Dennis

The HOVRS / GoAmerica merger has no affect on D-Link DVC-1000 i2eye videophones.

The MCI / vCustomer merger has no affect on D-Link DVC-1000 i2eye videophones.

They ARE 2 of the many VRS companies who do PROVIDE D-Link DVC-1000 videophones.

But no companies who "purchase the VRS with Dlink?" It just didn't make any sense to me.

I guess we have to wait for mld4ds to answer our questions or he could not understand his own questions!!!

deafclimber · 09-27-2005, 03:23 PM

from what i saw some posts in other threads, mld4ds is suspended for now... i dunno when he ll be back...

09-26-2005, 12:21 PM	#1 (permalink)
qwerty123 Registered User Join Date: Jan 2005 Location: All Deaf Country Posts: 662	Sorenson Announcement http://www.sltrib.com/business/ci_3057253 Firm strikes deal to acquire Sorenson By Bob Mims The Salt Lake Tribune Golden Rauner, a private equity firm specializing in management buyouts and consolidations, has reached agreement to acquire Utah's Sorenson Communications. In announcing the deal Friday, neither company would reveal specifics of the investment, other than to confirm the Chicago-based Golden Rauner will gain controlling stock interest in the privately-held Salt Lake City company. The investment is to close on Nov. 30. James L. Sorenson Jr., the company's current CEO, will become a member of the new Sorenson Communications board. Chief Operating Officer Patrick Nola will be the new CEO of the company, which will retain all its employees, its name and its Utah headquarters. "This is a very important part of our moving up to the next level," Sorenson said. "It will allow us to retire some debts, but it also is a very positive partnership. They like strong management teams like ours and don't try to micromanage them." Founded in April 2000 by billionaire biotechnology inventor James LeVoy Sorenson and his son, James Jr., Sorenson Communications today is best-known for its services to the deaf community: Sorenson Video Relay Service (VRS), Sorenson IP Relay and the company's line of videophones. The service allows hard-of-hearing callers to conduct live video relay services with the hearing through a sign-language interpreter. The company's IP Relay service extends text-based relay calls by the deaf through PCs or handheld devices to hearing telephone users. "It is gratifying to find an equity partner that shares our vision and commitment to the deaf and hard-of-hearing community," Sorenson said of Golden Rauner. "The demand is there for the services, and this allows us to better grow to meet that." Friday's announcement came just 10 days after the launch of Sorenson's IP Relay service center in South Jordan. The new deal will not affect plans announced earlier to create up to 750 jobs at the center by 2007; the facility currently employs about 150. The company's popular, 2-year-old Video Relay Service, which employs about 1,800 interpreters at more than two dozen facilities nationwide, also will remain intact. Golden Rauner, which reports having more $6 billion in capital, focuses its investments on business-to-business services and outsourcing, information technology, health care, education/training, transaction processing, marketing services and distribution and logistics enterprises. Philip Canfield, a principal at Golden Rauner, said that acquiring Sorenson Communications gives his firm a market leader with leading-edge video communication technology solutions and high-quality interpreting services for deaf and hard-of-hearing individuals. bmims@sltrib.com About Sorenson Communications The deal: Golden Rauner, a private equity firm, will gain controlling stock interest in the privately-held Sorenson Communications. What will happen: The company will retain its name, its Utah headquarters and all its employees. IP Relay: The new deal will not affect plans to create up to 750 jobs at the service center by 2007. Video Relay Service: VRS will remain intact. Sorenson name, location won't change

09-26-2005, 02:55 PM	#10 (permalink)
deafclimber :: is a dirt dirty ? :: Join Date: May 2003 Location: hotlanta Posts: 3,566	__________________ Feel free to PM me if you have any question about Windows Mobile or AT&T Mobiliy's TAPs.

09-26-2005, 03:25 PM	#14 (permalink)
deafclimber :: is a dirt dirty ? :: Join Date: May 2003 Location: hotlanta Posts: 3,566	yea. an interpreter told me she overheard a director didn't want to hire an intelligent deaf worker in her dept at the center in atlanta because she thought he couldnt speak but he could sign. that was dirty wacko ... __________________ Feel free to PM me if you have any question about Windows Mobile or AT&T Mobiliy's TAPs.

09-27-2005, 03:23 PM	#21 (permalink)
deafclimber :: is a dirt dirty ? :: Join Date: May 2003 Location: hotlanta Posts: 3,566	from what i saw some posts in other threads, mld4ds is suspended for now... i dunno when he ll be back... __________________ Feel free to PM me if you have any question about Windows Mobile or AT&T Mobiliy's TAPs.

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09-26-2005, 01:17 PM	#2 (permalink)
Nesmuth Banned Join Date: Jun 2004 Location: The Southland of California Posts: 3,199	That's interesting! I know GTCR Golder Rauner LLC as a credit collection giant. Makes me wonder big time over privacy issues. The big question is will GTCR Golder Rauner LLC use Sorenson Communications as their spies to go after a lot of bad debts held by members of the deaf communities? Richard

09-26-2005, 02:35 PM	#5 (permalink)
NightwarriorJin Darkstalker Guy Join Date: Jun 2004 Location: In middle of nowhere Posts: 178	Richard = Troller