World VoIP NewsVoIP company Flint Telecom starts expansion into US countryside
VoIP company Flint Telecom starts expansion into US countryside
Flint Telecom Group Inc. has distributed a ‘’Letter of Intent’’ with the actual intent to acquire 100% of a turnkey VoIP company delivering VoIP telephony and other associated services to Small and Medium sized businesses in the United States. Expected deal will be fully arranged within two months if all administrational details will be completed properly.
In case the acquisition will be completed timely, it will bring nearly immediate and considerable annual revenues to the Flint in excess of $2 million; the target unnamed company is currently rampantly growing at over 50% per year. When all array of expected VoIP market pending acquisitions will be fully completed, the running and operational costs will be decreased due to shared common services and network cost reductions, so delivering more positive income data from the existing revenue sources. The world of VoIP industry in the U.S. continues to grow fast as it has become more mainstreamed with the Telecoms Industry Association seeing the VoIP share of residential and enterprise phones lines getting 37% and 10% respectively by 2015.
Bernie Fried, President and COO of Flint Telecom Group, stated in a press release, "This is the first announcement from a number of ongoing discussions with similar providers and marks a first step in our recently announced growth strategy for our VoIP services. This company has some significant intellectual property and has created some very exciting applications in automated dialing and high volume call control in a high value market. Globally, SMEs account for 99% of business numbers and 40% to 50% of GDP. We still expect to acquire over 10 companies throughout 2011 that we expect will deliver sustainable profitability for the group from mid 2011. These companies are unable to achieve sufficient scale on their own but they have achieved the hardest part in growing any business, acquiring customers. By consolidating the various business operations under one roof, duplicate costs are eliminated and network elements reduced to achieve greater returns from the existing revenue streams."
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