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August 7, 2006
RNK Telecom Inc., a provider of PSTN and VoIP telephony services, on Monday announced it has entered into a letter of intent to acquire iOnosphere Inc., a South Carolina-based provider of VoIP products and services, and international long-distance wholesale carrier.
The transaction is expected to close by Aug. 31. The company said the combined entity’s annual revenue is expected to exceed $60 million.
“Its widely known that IP telephony is continuing to gain momentum in European and Asian markets, and earlier this summer, analyst firm IDC predicted that the number of residential U.S. VoIP subscribers will grow from 10.3 million in 2006 to 44 million in 2010,” said Richard N. Koch, president and CEO, RNK. Clearly, this technology is bringing about a worldwide paradigm shift in the way people communicate; the acquisition of iOnosphere is the next step in our long-term strategy to ensure that RNK remains a worldwide telephony leader in both PSTN and VoIP.”
As an international wholesale carrier, iOnosphere terminates telecommunications traffic to more than 200 destinations for a variety of customers, including Tier 1 U.S. and European carriers.
Upon integration into RNK, iOnosphere will double RNK’s VoIP footprint and extend its reach to Asia, Africa, the Middle East, South America and other international destinations, the company said.
iOnosphere offerings include a private-label reseller program, international wholesale services, VoIP telephone service and UNE-P replacement solution.
Purchase price and other related terms have not been disclosed.
Read more about:Agents
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