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Glenayre invests in Multi-Link

DENVER-Multi-Link Telecommunications Inc., a provider of integrated voice messaging services, signed a letter of intent for Glenayre Technologies Inc. to invest about $1.5 million in Multi-Link’s restricted common stock.

In addition, Multi-Link has been advised that Glenayre is in negotiations with an existing stockholder to purchase 100,000 additional shares, which would bring its stake in Multi-Link to around 5 percent, said the company.

The agreement also calls for Multi-Link to grant Glenayre visitation rights to its board meetings, with Glenayre executives providing advice and guidance to Multi-Link’s business plan. Multi-Link will also purchase $2.5 million of equipment from Glenayre over the next three years.

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