TenFour Inks Agreement to Sell Substantially All Assets to Acuative Corporation Pursuant to Section 363 of U.S. Bankruptcy Code

Morristown, NJ, December 21, 2021—Alliant Technologies, L.L.C. (d/b/a TenFour), a provider of subscription-based networking, communications, and security technologies to a number of major retail and manufacturing customers, and its affiliates AlliantWare, L.L.C. and Red Forge LLC (collectively, “TenFour”), are pleased to announce that TenFour has entered into an asset purchase agreement (“APA”) with Acuative Corporation (“Acuative”) to sell substantially all of TenFour’s assets pursuant to section 363 of the Bankruptcy Code.

“We are pleased to have found an organization in Acuative that is committed to the continuation of providing white glove service to our Network as a Service customers,” said Mark P. Cantaluppi, TenFour’s Chief Executive Officer. “The Acuative team stands ready to build upon our business model and expand its reaches to new prospects and markets across the country. I would like to thank all TenFour employees for their dedication and efforts in building network, communications, and security solutions that solve business problems for our customers.”

In order to effectuate the sale in the most efficient manner, TenFour is filing for chapter 11 bankruptcy relief. Accordingly, the APA with Acuative will be subject to the bidding procedures TenFour is filing with the Bankruptcy Court under which interested parties will have the opportunity to submit higher and better bids.

TenFour does not anticipate any changes to its operations as a result of the filing and will continue to provide customers with the same high-level, 24x7x365, uninterrupted service through the closing of the sale transaction.

Parties interested in participating in the bidding process should contact TenFour’s investment bank, Stout Capital LLC, for additional information. Formal inquiries should be addressed to Michael Krakovsky (mkrakovsky@stout.com). A signed copy of the APA and other documents relevant to the sale and auction can be found here: https://www.donlinrecano.com/tenfour.

In addition to Stout Capital, TenFour has retained Faegre Drinker Biddle & Reath LLP as legal counsel and Eisner Advisory Group as its financial advisor.


ABOUT TENFOUR

TenFour provides turnkey, subscription-based Networking and Communications as a Service for numerous industries, from retail to restaurants and more. Recognized as a “Partner of the Year” by Cisco and AT&T, TenFour is trusted by many leading technology companies for its more than 20 years of experience deploying and managing network and communications hardware, software, and services. The company’s 24x7x365, U.S.-based Network Operations Center and distributed team of IT professionals work together to monitor and support thousands of customer locations across the U.S. and around the world.

 

PRESS CONTACT

Katie Patterson, Senior Director of Marketing
TenFour
+1 973 775 4112
kpatterson@tenfour.com
www.tenfour.com

 

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