Taconic Sells NYC Connect, the City's Premier 'Meet Me Room' NEW YORK CITY - Taconic Investment Partners has sold the Meet Me Room assets of NYC Connect, LLC, located within 111 Eighth Avenue, to tel(x), an operator of network meet-me interconnection facilities in the United States, announces the firm's co-founder Paul E. Pariser.

Spanning 2.9 million square feet, Taconic's 111 Eighth Avenue is generally acknowledged as the premier technology building in New York City. Because of its huge electrical and emergency electrical power capacity, cooling infrastructure and security, the building is ideal for its impressive technology tenants, including Google, Sprint, Level 3 and Doubleclick.

The NYC Connect Meet Me Room facility at 111 Eighth Avenue and the original tel(x) facility at 60 Hudson Street are New York City's most important network interconnection points. With this acquisition, tel(x) will operate 13 Meet Me Room and Core Interconnection Facilities in nine states nationwide, making it the world's largest Meet Me Room operator.

"We felt NYC Connect had reached the point at which it needs to be in the hands of a technology firm," says Mr. Pariser, who saw the Meet Me Room through from its infancy to its current stature as one of the premier facilities of its kind. "NYC Connect will continue to thrive under the direction of tel(x), and we're thrilled to have them as tenants in our building."

This transaction will enable tel(x) to provide customers with state-of-the-art, fully-managed Meet Me Room environments for establishing core network interconnections at multiple New York City locations. The NYC Connect employees, including co-founder and COO Tesh Durvasula, will transition to tel(x) and work closely with the existing team there to ensure a seamless integration.

tel(x) executives view the acquisition, which has merged two of the richest interconnection points in the nation, as a major step towards being able to offer the highest-caliber Meet Me Room operation worldwide.

Signal Hill Capital Group LLC advised the seller, a partnership controlled by Taconic Investment Partners LLC, in this transaction.

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