TNCI Operating Company, LLC entered into definitive agreement to acquire Impact Telecom Inc. from Robert M. Beaty, Charles Griffin, William Beaty, Jason McKesson and Doug Funsch on November 3, 2015. The newly formed organization, under the brand Impact Telecom, will provide innovative cloud and voice telecommunications solutions to businesses and consumers in the United States and Canada and wholesale carrier customers around the world. Garrison Investment Group, L.P. will own 90% stake on merged company and Impact Telecom shareholders will own 10% of merged company. Laura Thomas will become Chairman of the Board of Directors of the new company and Bob Beaty will continue as Chief Executive Officer of Impact Telecom. The transaction is subject to approvals from the FCC and applicable state regulatory authorities and it is expected to close in January 2016.

Jason Griffith, Sabrina Cua, Ziemowit T. Smulkowski, Todd M. Schneider, Laura Yip, Eric R. Keller, Kate T. Robinson, Behnam Dayanim, Mary Elizabeth M. Hadley and Amit Mehta of Paul Hastings acted as legal advisors for TNCI Operating. Michel Gélinas, Dana Borshy, Luka Pavlovic, Luc Bernier, Nathaniel Lacasse, Jonathan Auerbach, Maria Chantzis, Tricia Lees, Mario Verrillo, Jessica Rodrigues-Cerqueira, David Elder, Jeffrey Brown and Tammy Donovan of Stikeman Elliott LLP acted as legal advisor for Garrison Investment Group and TNCI Operating Company, LLC.

TNCI Operating Company, LLC completed the acquisition of Impact Telecom Inc. from Robert M. Beaty, Charles Griffin, William Beaty, Jason McKesson and Doug Funsch on January 6, 2016.