SENSEX NIFTY
Jul 22, 2013, 04.21 PM IST | Source: Business Wire India

Angel Telecom Holding acquires majority of Next Angel LLC

Angel Telecom Holding AG located in Baar, Switzerland and traded on the Third Market of the Vienna Stock Exchange under the symbol AGLT announced that it acquired Next Communication, Inc.'s interest in Next Angel LLC, New York USA in a friendly transaction.

Angel Telecom Holding acquires majority of Next Angel LLC

Angel Telecom Holding AG located in Baar, Switzerland and traded on the Third Market of the Vienna Stock Exchange under the symbol AGLT announced today that it acquired Next Communication, Inc.'s interest in Next Angel LLC, New York USA in a friendly transaction. Following this transaction, Angel Telecom will hold a majority of Next Angel, which will be renamed to Angel Americas LLC. [Marcatel will remain a partner in Angel Americas LLC.]

Angel Americas LLC markets prepaid calling-cards, and other prepaid voice and mobile products and is a dominant player in the US retail voice product market targeting ethnic communities in the United States. Angel Telecom's increased investment in Angel Americas LLC follows the company’s strategy to strengthen its presence in the United States.

Also read: 2G case: Reliance appeals court order to call new witnesses

Angel Telecom has just completed its fiscal year 2012-13 with a significant increase in revenues and noticeable improvement in profitability. Details will be announced separately.

About Angel Telecom

Angel Telecom owns and operates ATTrade©, an online professional trading platform for Voice over IP (VOIP) traffic. The platform runs on the Company's proprietary software, custom designed to address the needs of the wholesale VOIP market. The platform has operated continuously since September, 2006 and is utilized by nearly 500 carriers and traders. The Company principals have over 20 years experience in the international wholesale telecom business, and maintain long-term personal relationships with carriers and PTTs.

For more information, visit the Company’s website at www.angel-telecom.com

Safe Harbor Statement

This press release may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain factors, risks and uncertainties that may cause actual results, events and performances to differ materially from those referred to in such statements. Factors which could cause actual results to differ from expectations include, among others, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, unknown competitive factors, the need to raise funds for operations and other risks within the regulation of the industry.

ADS BY GOOGLE

video of the day

All portents good; optimistic for next few Diwali's: Damani

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.