Teltran Acquires Internet Protocols Ltd
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Teltran International announced Tuesday that it has now fully acquired Internet Protocols Ltd. (IPL), an emerging service provider targeting ISPs in the UK.
Teltran said it had paid approximately $17 million in a combination of cash and stock for the UK company.
IPL operates the state-of-the-art facilities known as the "London Switch," together with similar facilities in Manchester. It has established commercial relationships with over 20 ISPs, virtual ISPs and leading charities, providing co-location facilities management, scalable Internet connectivity, and other Internet services.
"The acquisition of IPL further expands Teltran's position as one of the most rapidly growing providers of basic and value added Internet and related telecommunication services in Europe and other key markets," said James Tubbs, chief operating officer of Teltran.
Teltran is a global facilities-based common carrier which offers voice and fax over IP, domestic and international long distance calling, web portal and hosting, IVR applications, fax broadcast services and ISP services.
Speaking for IPL, Sol Saad, a founder and director of the company, said that joining Teltran was an important part of IPL's expansion in the UK and continental Europe.
"As a Teltran subsidiary, we are looking forward to substantial revenue growth during the year 2000 and beyond," said Saad.
Teltran says it is in discussions with other companies with a view to making further strategic acquisitions to expand its telecoms and Internet business.