LOS ANGELES–(BUSINESS WIRE)–Jan. 26, 2005–PGP Capital Advisors, LLC, a boutique investment bank specializing in middle-market and cross-cultural engagements, announced today that it acted as merger and acquisition advisor to EarthLink Inc. (NASDAQ: ELNK), one of the nation’s leading Internet service providers, on its newly announced $440 million joint venture with SK Telecom, Korea’s leading mobile communications company.
The joint venture, SK EarthLink, will become a nationwide mobile virtual network operator and offer an extensive array of mobile communications services and handsets to U.S. consumers.
“I believe our ability as a close-knit firm to straddle both sides of the Pacific, leverage our excellent relationship network and provide focused senior attention to cross-border banking sets PGP apart”
“This partnership represents the best marriage of American innovation and marketing savvy, with Korean cutting-edge technology and can-do spirit,” said Stewart Kim, managing partner of PGP Capital.
Mr. Kim believes the EarthLink/SK Telecom partnership is on the leading edge of a trend in which there will be more cross-border merger and joint-venture activity with Asian companies in the next three-to-five years.