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June 2, 2005
Wholesaler VoIP Inc. has completed its acquisition of Caerus Inc. and that companys wholly owned subsidiaries, Volo Communications Inc., Caerus Networks Inc and Caerus Billing Inc.
The deal is valued at $30 million.
VoIP Inc. says it will keep the Caerus companies operating under their existing names. Volo is a facilities-based carriers carrier. Caerus Networks Inc. is the technology research and development subsidiary, and Caerus Billing Inc. is the billing and mediation subsidiary.
Steven Ivester will stay on as CEO of VoIP Inc. and all of the subsidiaries, while Shawn Lewis, Caerus’ founder and CEO, will become CTO of VoIP Inc.
We are creating a combined company with one of the broadest product offerings, deepest distribution channels, largest sales and service support teams which just doubled in size in the industry, not to mention one of the largest proprietary VoIP networks in the U.S., said Ivester in a press release.
Lewis agreed, adding, “Combining Volo’s current customer traction, technology, and network with VoIP Inc.’s existing portfolio of companies is a huge step for the industry.
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