SSG was retained as Verso’s exclusive investment banker to conduct a sale of each of the businesses pursuant to Section 363 of the U.S. Bankruptcy Code. In order to maximize the value of the Verso estate, SSG marketed the business units through four separate sale processes. After conducting a broad sale process and negotiating with several strategic and financial buyers, a bid by Communications Test Design, Inc. for the Access Device Business was deemed to be the highest and best offer. The sale of the Access Device Business closed on July 16, 2008. After a 363 auction that included 68 bids and a purchase price that was ultimately more than double the stalking horse bid, the Mobile Backhaul Business was sold to Comtech Telecommunications Corp. The sale of the Mobile Backhaul Business closed on July 18, 2008. The sale of the Network Monitoring and Security Business closed on October 28, 2008.