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ROUNDUP / BARBARA MURPHY

Franklin Telecom Says Merger OKd by Boards

March 11, 1997|BARBARA MURPHY

The merger of Franklin Telecommunications Corp. in Westlake Village and Internet Passport in Atlanta has been approved by the boards of both companies, Franklin officials announced.

In a joint session of the two boards of directors, the merger was approved for an undisclosed amount of Franklin common stock for all IP stock.

Internet Passport offers a variety of high-end Internet business products and services, including satellite Internet access products.

Officials with both companies said these products and services will enhance the capabilities of FNet, Franklin's Internet division. Internet Passport will maintain and expand its headquarters in Atlanta.

"We currently offer hardware solutions through Franklin Telecom," said Frank Peters, president and chief executive of Franklin. "Now with the additional capabilities that Internet Passport contributes, we will be able to offer a total high-speed solution via satellite."

Sparrow Marcioni will continue as IP president and has accepted a position as vice president of marketing for Franklin Telecom.

Franklin Telecom designs and manufactures communications devices.

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