Acquisition Will Strengthen TMNG's Technical Capabilities in Serving the Global Telecommunications, Media and Entertainment Community OVERLAND PARK, Kan., Aug. 1 /PRNewswire-FirstCall/ -- TMNG Global(Nasdaq: TMNG), a leading provider of management consulting services to theglobal communications, media and entertainment industries, today announcedthat it has signed a definitive agreement to acquire RVA Consulting, LLC("RVA"), a privately-held telecommunications consulting firm based inSomerset, New Jersey for a total purchase price of approximately $7.0million, plus potential earn-out consideration of up to approximately $5.4million in cash and equity tied to future operating results. Since it began operations in January of 2006, RVA has focused onprogram and project management, systems development and migration andintegration testing for the communications industry. RVA's key clientrelationships include leading Tier-one U.S. carriers. RVA co-founders andminority shareholders Mark Markowitz and Dale Reynolds will continue inexecutive positions following the closing. TMNG has recruited Thomas Berry,a former senior executive of AT&T, to serve as General Manager for RVA,which will become part of TMNG's core consulting practice following thetransaction close. "RVA brings deep technical expertise and a blue-chip client base tocomplement TMNG's historical strength in providing transformationalconsulting services to traditional telecom companies," said Rich Nespola,Chairman and CEO of TMNG Global. "Strengthening and expanding our relationswithin these Tier One carriers in a consolidated U.S. telecom market willreaffirm our leadership in telecom consulting at a time when we havebroadly diversified our client base in recent years to address a convergingcommunications marketplace. RVA is a well-managed organization with deeprelationships and talented consultants. We believe this transaction will beimmediately accretive to our business." RVA reported revenues of approximately $25 million for the twelvemonths ended June 30, 2007; however, this performance was primarilyattributable to a few large consulting projects that are scheduled toconclude in June 2008. While RVA may obtain extensions to these agreementsand will strive toward continued growth and diversification, TMNG hasvalued the transaction to the expectation that RVA's revenue may besubstantially lower following completion of these contracts. The transaction is expected to close in August 2007. TMNG managementwill provide further discussion relating to RVA during the company's secondquarter earnings call scheduled for August 14, 2007. About TMNG Global TMNG Global (Nasdaq: TMNG) is a leading provider of professionalservices to the converging communications industry. Its companies, TMNG,CSMG Adventis, and Cartesian, and its base of over 500 consultants, haveprovided strategy, management, and technical consulting, as well asproducts and services, to more than 1200 communications service providers,entertainment, media, and technology companies and financial services firmsworldwide. The company is headquartered in Overland Park, Kansas, withoffices in Berlin, Boston, Chicago, London, New York, Shanghai andWashington, D. C. This release contains forward-looking statements within the meaning ofthe Private Securities Litigation Reform Act of 1995. Forward-lookingstatements involve risks and uncertainties. In particular, any statementscontained herein regarding expectations with respect to the futureperformance of RVA, the ultimate cost of the acquisition, RVA's impact onthe Company's business, operations and results, future stock marketconditions, business, revenues or profitability are subject to known andunknown risks, uncertainties, and contingencies, many of which are beyondthe Company's control, which may cause actual results, performance, orachievements to differ materially from those projected or implied in suchforward-looking statements. Factors that might affect actual results,performance, or achievements include, among other things, any future salesof the stock to be issued in the transaction, the integration of RVA withthe Company, the future performance of RVA, the impact of RVA on theCompany, conditions in the telecommunications industry, overall economicand business conditions, the demand for the Company's services and servicesof RVA, the factors described in this press release, and technologicaladvances and competitive factors in the markets in which the Companycompetes. These risks and uncertainties are described in detail from timeto time in TMNG's filings with the Securities and Exchange Commission.
