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CEO Joe Gillette: Gillette and Eureka Merger Will Happen

NEW YORK CITY-Amid a flurry of rumors about the consolidation of a number of commercial real estate companies, service providers and e-businesses, GGN's president and CEO confirms his company is merging with Eureka.

By Amy Vaughn | Updated on November 15, 2000

NEW YORK CITY-Founder, president and CEO Joseph P. Gillette of New York-based Gillette Global Network tells GlobeSt.com that his company is in the process of merging its business with LA-based Eureka Broadband Corporation. The result will be what, for an as of yet lack of determined name, Gillette calls, “New Company.” All of the top executives of each will lead the new endeavor and the stocks, operations, clients and products of each will be folded into New Company.

Gillette acknowledges the perception in the marketplace that the increasing hostility of the economy is forcing companies to merge and that consolidation spells buyout by bigger companies of weaker entities. He says, however, that this is not the case in this deal.

“Neither side hobbled in here. Executives on both sides sought each other out. The boards of both companies agreed we could do business more expeditiously together than we each could on our own. This was choice versus need,” he responds.

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