Teliphone has successfully completed an asset purchase agreement through an acquisition corporation for the core assets, operations and network of Navigata Communications 2009. The acquisition company, which is a wholly owned subsidiary of Teliphone, is expected to carry out operations under the trade name, Teliphone Navigata-Westel.
Financial details of the transaction will be released through a Form 8K to be filed with the U.S. Securities and Exchange Commission within the prescribed period. The acquisition includes all core assets, operations and network of Navigata Communications 2009, including its British Columbia wireless microwave backhaul network, its Canadian Wavelength fiber optic network, CLEC Operations, and its mutual CLEC/ILEC colocation facilities.
Benoit Laliberte, chief technology officer of Teliphone, has been appointed as president and CEO of Teliphone and the subsidiary. Benoit Laliberte will also remain as CTO of both entities. Lawry Trevor-Deutsch, Teliphone's perivous president and CEO will remain with the company as a special advisor for business development and will oversee the public aspects of the corporation. With this transaction, Teliphone Navigata-Westel becomes one of Canada's largest independent facilities-based telecommunications operators.
Navigata Communications 2009 has changed its name to Cascade Divide Enterprises, which will continue to operate Next Layer and On Call Wireless. As part of the sale to Teliphone, Teliphone will also have the use of the names Navigata, Westel and related trademarks of Navigata.
John Warta, chairman of Next Layer, said, “We are impressed with the Teliphone team, and this transaction allows us to focus on growing Next Layer, Inc. and significantly improve our competitive position in the collocation business focused across Canada.” This transaction creates a strong ongoing partnership with Teliphone Navigata-Westel.
Lawry Trevor-Deutsch, outgoing president at Teliphone, said, “The purchase of Navigata core assets and network will allow Teliphone to significantly improve its Western presence and operations that will result in Teliphone becoming a stronger national facility-bases telecommunications provider. We also believe that this will provide significant incremental value to our current shareholders.”
Recently, Teliphone signed a definitive agreement for the acquisition of all the operations, technology and intellectual property of the New York Telecom Exchange for USD 5 million in an all-stock transaction. New York Telecom Exchange will receive a total of 20 million Teliphone common shares at $0.25/share.
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Edited by Rachel Ramsey