Hostech close to acquiring six telecom companies

Hostech close to acquiring six telecom companies

Telecom Service provider Hostech has announced it expects to complete the acquisition of six telecom technology companies before the end of April.

Shareholders voted to approve the acquisitions on March 30, Hostech said, and the company has since been working towards meeting the conditions required for the acquisitions.

Under the deals, Hostch will issue 45 million shares to acquire the assets of 5Star Telecom, 32.5 million shares for OfficeLink Plus, 17.9 million for Axxis Technology, 3.5 million for Aspirence and $96 million for Accord.

The company had planned to issue 187.5 million shares to purchase Anittel, but said the purchase price will be lower as a result of an off-market transfer to shares as part of the purchase price. This will reduce share dilution, Hostech said.

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Tags Mergers and acquisitionsit servicesTelecommunicationsHostech

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