 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
ITOS Aquires Satellite Phone Source
Newport Beach CA (SPX) Aug 06, 2004 ITOS has entered into a definitive merger agreement to acquire 100 percent of the shares in Satellite Phone Source. All interim officers and directors of ITOS will resign immediately and Stan F. Wilson Jr. will be appointed chairman, president and CEO, while Marc J. Caparrelli is to be appointed secretary/treasurer. "We are extremely excited about this transaction," stated Wilson. "Our company is in a high growth stage and in an industry that is highly fragmented. This merger with ITOS will enable us to roll-up several competitors that provide synergy to our current structure." "With our aggressive strategy, we believe we can become one of, if not the largest independent players in North America." It is expected that the merger will close within the next two weeks. In other news, ITOS announced that it has retired 100 percent of the debt left behind by previous management. Loans were made to IT Outsource Inc. and at the time of dissolution, the company was left with these liabilities. "In fairness to new management," stated a company spokesperson, "we felt that the company needed a fresh start. It is unfortunate that the situation had to arise in the first place, but now we can all move ahead. Satellite Phone Source gives us a tremendous opportunity to grow this company quickly through acquisitions." Community Email This Article Comment On This Article Related Links Satellite Phone Source SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express The latest information about the Commercial Satellite Industry
Stratos Steps Closer To Xantic Acquisition
Bethesda MD (SPX) Jan 5, 2006Stratos Global recently announced it had taken a step closer toward the completion of the acquisition of Xantic, having received positive advice from the Works' Council in the Netherlands, and executed a definitive agreement to purchase Xantic from KPN and Telstra Corporation. |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2006 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA PortalReports are copyright European Space Agency. All NASA sourced material is public domain. Additionalcopyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
