Meltzer Lippe Closes Acquisition for Long Island Public Company

May 27, 2010 - PRLog -- Attorneys from Meltzer, Lippe’s Corporate Group yesterday closed one of the most significant merger and acquisition transactions Long Island has seen in a year, as Tii Network Technologies (Tii) acquired the Copper Products Division of Porta System Corp. Meltzer Lippe partner Ira Halperin, who heads the firm’s Corporate Group, led the attorney team of partner David Schaffer, Gisella Rivera, Jamie Shmuely and Pedram Tabibi, who have been working on this transaction since February 2010.  

“There have been talks between the companies regarding a possible transaction for nearly 30 years,” said Halperin. “The complexities of working with the primary companies, as well as subsidiaries in Mexico and the U.K. made the acquisition process very challenging, but ultimately extremely rewarding. The dedication and willingness of our attorneys and staff to attack every issue with persistence and determination allowed us to meet the deadline.”   

“This acquisition marks an exciting new era for our company and thanks to the Meltzer Lippe team, not only were we able to complete the deal; I was able to announce this important acquisition at our annual stockholders’ meeting the following day,” said Tii President and Chief Executive Officer Kenneth A. Paladino.  “The efforts of the Meltzer Lippe team went well beyond the expected. There was a tremendous amount of work to accomplish within an extremely tight window, and they did not rest until every last document was signed.”

Tii, headquartered in Edgewood, Long Island is a leader in designing, manufacturing and marketing network products for the communications industry.  This acquisition significantly increases Tii’s sales and positions the company to be a major competitor in the global telecommunications equipment marketplace.

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Meltzer Lippe, known as Long Island’s Business Law Firm, is one of the largest law firms on Long Island. The firm’s practice encompasses all aspects of corporate and business law, tax law, employment and labor law, partnerships, limited liability companies and joint ventures, litigation, real estate, tax-exempt organizations, wills & trusts, estate planning & administration, bankruptcy, construction law, employee benefits and executive compensation and government relations and regulatory affairs. For more information on the firm, visit www.meltzerlippe.com.