TelePacific Communications to acquire assets and customers of Telekenex
May 06, 2011 (Datamonitor Financial Deals Tracker via COMTEX) --
TelePacific Communications, a provider of integrated voice and data telecommunications services, a definitive agreement to acquire all of the assets and customers of Telekenex, Inc., a provider of business-grade VoIP solutions and advanced call management applications. Both the companies are based in the US.
Under the terms of the agreement, the TelePacific Communications family of companies will gain approximately 1,000 business customers and 122 employees.
TelePacific plans to operate the business assets of Telekenex - its service offerings and customer operations - as a separate channel. The company will assume operational responsibility for Telekenex's customer base following regulatory approval, expected in the third quarter of 2011.
Gibson, Dunn & Crutcher LLP is acting as legal advisor to TelePacific, while D.A. Davidson & Co. is acting as financial advisor to Telekenex and Gunderson Dettmer and DLA Piper are acting as its legal advisor.
Deal Type Acquisition
Sub-Category Asset Purchase
Deal Status Announced: 2011-05-05
Target (Company) Telekenex, Inc. - Assets and Customers
Acquirer (Company) TelePacific Communications
Vendor (Company) Telekenex, Inc.
The transaction enhances TelePacific's network and opens up new markets and opportunities for growth. It also augment its existing IP portfolio with services including PBX platform with nationwide voice capabilities, fiber network in the San Francisco-Oakland Bay Area, nationwide PCI compliant MPLS backbone and Managed network services.
With hosted PBX services, TelePacific customers will be able to benefit from all the conveniences and features of an on-premise PBX without the equipment cost and capital outlay.
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