FOTO FONE acquires Bizfon out of Bankruptcy
Salem, NH. April 18, 2001 – Bizfon, Inc. announced today that it has sold its business operations to Foto-FONE in a sale transaction approved by the U.S. Bankruptcy Court, New Hampshire District. The Mirus Special Situations Group advised the debtor in the transaction, which includes cash consideration for Bizfon creditors. Bizfon Inc., a three-year-old Salem, N.H., company that makes inexpensive office voice mail and call-routing systems for small businesses, found itself in financial trouble after failing to pay state sales tax on more than $10 million in equipment sold in over 20 states.
Bizfon provides small businesses the tools they need to transform the way their business communicates – with customers, employees and suppliers – through features such as built-in voice mail, automated attendant, and call forwarding. Bizfon strives to make purchasing and maintaining a telephone system as simple and affordable as possible.
Bizfon products are designed so that users can elect to install the system themselves, using the Bizfon ProInstall kit and any further service requirements for Bizfon products can be accomplished remotely through Bizfon’s Customer Care support. To date, Bizfon has taken the mystery out of purchasing a telephone system for over 11,000 customers and continues to rapidly expand its installed customer base.
About the Mirus Special Situations Group
Mirus provides investment banking solutions to corporate clients in distress, including divestitures, restructurings, and bankruptcy sales. Since 1987, Mirus has provided corporate finance advisory services to clients in technology, business services, manufacturing, consumer products, health care, and the resort & hospitality industry. For additional information, visit www.merger.com.Back to Transactions