Prior to OnWeb, FECI customers were required to call the FECI Call Center, where agents would access the IBM "green screens" to locate customer information.
OnWeb was the final destination of a two-year search to reap the benefits of the Web without breaking the bank," said Jerry Underwood, vice president of information systems, FECI.
The closing of the transaction is subject to customary closing conditions, including receipt of regulatory approvals and the approval of the holders of a majority of the outstanding shares of FECI common stock.
FECI plans to discuss this transaction on its previously scheduled 2007 1st quarter earnings conference call on Wednesday, May 9, 2007 at 10:00 a.
Morgan Stanley acted as financial advisor to FECI and provided an opinion to the Board of Directors of Florida East Coast Industries that the merger consideration is fair to FECI shareholders from a financial point of view.
FECI shareholders are urged to read the proxy statement and other relevant materials when they become available because they will contain important information about FECI, Fortress and the proposed transaction.
Anestis, Chairman and CEO of FECI
stated: "Going forward, FECI
will focus all of its resources on its two core operating businesses, Florida East Coast Railway, L.
On June 20, 2002, FECI announced it had retained Morgan Stanley to assist in a review of strategic alternatives for EPIK.
FECI presently intends to continue to support EPIK's provision of such service to existing customers while it seeks to exit the telecommunications business.
FECI will hold its quarterly conference call to discuss third quarter results this morning, at 10:00 a.