Ascom AG is a Swiss-based multi-national technology company active in telecommunications, service automation and energy systems, with over 10,000 employees worldwide and up to 2002 was a leading provider of payphones to over 70 telcos in 40 countries.

Ascom purchased 60% of King Products Inc. located near Toronto which was a manufacturer of multimedia terminals and related software. Ascom had an earlier relationship with King as a distributor of its terminals. In view of King's leadership in the multimedia and kiosk market, and Ascom's interest in the telecom sector, the strategic investment was a natural fit.

Within a few years of this acquistion, Ascom underwent a review of its worldwide business strategy and decided to narrow its focus to concentrate on fewer sectors. As a result, it decided to divest its payphone division and consequently its interest in King, since it served a similar market. Ascom retained Private Capital to assist with the divestiture of Ascom's interest in King, and Private Capital proceeded to conduct a world-wide search for the best purchaser of Ascom's interest in King. An important requirement would be that the successful purchaser must continue to honour the maintenance and support agreements that Ascom had in place with its own customers to which it had provided King terminals and software.

After an exhaustive search by Private Capital which involved discussions and negotiations with companies around the Globe, the King business was acquired by URMET TLC S.P.A. of Milan, Italy.