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Zoom Telephonics, Inc.: Zoom Telephonics Receives Payment in Connection With Telesphere's Purchase of Unity

^{Published on 2009-10-08 12:07:36 - Market Wire}
 

BOSTON, MA--(Marketwire - October 8, 2009) - Zoom Telephonics, Inc. (OTCBB: [ ZMTP ]) announced that it has received a cash payment of $766,950 in connection with Telesphere's purchase of the VoIP services business of Unity Business Networks. Zoom may receive up to an additional $193,050, for a total of $960,000, in payments over the next 24 months, depending on whether any of this additional money is held back consistent with the terms of the purchase agreement between Unity and Telesphere.

Zoom's investment was originally booked in 2007 as $1,178,709, which included Zoom's attorney fees involved in closing the investment. The investment was written down to $960,000 as of December 31, 2008.

"Telesphere has purchased a valuable asset, and we wish the principals and personnel of Unity and Telesphere the best as they go forward together," said Frank Manning, Zoom's President and CEO.

About Zoom Telephonics

Zoom Telephonics, Inc. designs, produces, and supports ADSL modems and gateways, cable modems, dial-up modems, Voice over IP adapters and gateways, Bluetooth products, and other communications products under the Zoom, Hayes and Global Village brands. For more information about Zoom and its products, please see [ www.zoom.com ]

Forward-Looking Statements

This release contains forward-looking information relating to Zoom Telephonics plans, expectations, and intentions, including statements relating to future payments. Actual results may be materially different from expectations as a result of known and unknown risks, including events that may affect holdback amounts and future payments from Telesphere, and other risks set forth in filings with the Securities and Exchange Commission. Zoom cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Zoom expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Zoom's expectations or any change in events, conditions or circumstance on which any such statement is based.