Verizon will spin off its Telecommunications Relay Services (TRS)...

on core broadband and IP services,” a Verizon spokesman said. The deal is expected to close in 120 to 180 days, subject to approval by public utility commissions in California, Tennessee and the District of Columbia, he said. The deal is not subject to a separate financing contingency, GoAmerica said. GoAmerica and Verizon also entered into a transition service agreement under which Verizon will provide support services to GoAmerica during the integration period after closing. Stellar Nordia, a GoAmerica call center contractor, will assume facilities, employee and operational responsibilities for the Verizon’s two primary TRS call centers. Clearlake Capital Group will fund the transaction with $35 million committed equity and $30 million of committed senior debt. In return, Clearlake gets a third seat on the GoAmerica board. Clearlake will also commit an additional $55 million for “investments, acquisitions or combinations” if requested by GoAmerica’s board and approved by Clearlake by Sept. 14. TRS, created by Title IV of the Americans with Disabilities Act, enables speech or hearing impaired individuals to communicate over the phone with a person without such a disability through a communications assistant at a relay center. Verizon’s TRS division includes nationwide IP-based text and video relay services, and contracts to provide text-telephone relay services in California, Tennessee and the District of Columbia. The unit generated $67 million in 2006 revenue, Verizon said.