TORONTO, Dec. 3, 2012 (GLOBE NEWSWIRE) -- Toronto based Teliphone Corp. (OTCQB:TLPH), one of the world's local digital telecommunications companies, has completed an asset purchase agreement through an acquisition corporation for the Core Assets, Operations and Network of Navigata Communications 2009 Inc.
Effective immediately, the acquisition company, a wholly owned subsidiary of Teliphone Corp., will operate under the trade name, Teliphone Navigata-Westel. Teliphone's Chief Technology Officer, Benoit Laliberte has been appointed as the President and CEO of both Teliphone Corp. and the subsidiary and will remain as CTO of both entities. Lawry Trevor-Deutsch, Teliphone's past President and CEO will remain with the company as a special advisor for business development and will oversee the public aspects of the corporation. With this transaction, Teliphone Navigata-Westel becomes one of Canada's largest independent facilities-based telecommunications operators.
The transaction includes all core assets, operations and network of Navigata Communications 2009 Inc. including its British Columbia wireless microwave backhaul network, its Canadian Wavelength Fibre Optic Network, CLEC Operations, and its mutual CLEC/ILEC co-location facilities. Components of the transaction may be subject to receipt of regulatory approval and certain contractual consents for the acquisition of certain of the assets.
Navigata Communications 2009, Inc. has changed its name to Cascade Divide Enterprises, Inc., which will continue to operate Next Layer, and On Call Wireless. As part of the sale to Teliphone, Teliphone will also have the use of the names Navigata, Westel and related trademarks of Navigata.
Financial details of the transaction will be released through a Form 8K to be filed with the US Securities and Exchange Commission within the prescribed period.
John Warta, Chairman of Next Layer stated, "We are impressed with the Teliphone team, and this transaction allows us to focus on growing Next Layer, Inc. and significantly improve our competitive position in the collocation business focused across Canada". This transaction creates a strong ongoing partnership with Teliphone Navigata-Westel.
Teliphone's outgoing President, Lawry Trevor-Deutsch stated, "The purchase of Navigata core assets and network will allow Teliphone to significantly improve its Western presence and operations that will result in Teliphone becoming a stronger national facility-bases telecommunications provider. We also believe that this will provide significant incremental value to our current shareholders."
About Teliphone Corp
TeliPhone Corp. is one of the world's local digital telecommunications companies providing voice, data, Internet and IPTV to business, government and residential customers. Teliphone operates a Canadian coast to coast network with its own national infrastructure and its voice and IPTV services are also available in 47 countries. TeliPhone is able to deliver more value added services to its customers at a lower cost than other suppliers.
About Navigata Communications 2009 Inc.
Headquartered in Burnaby British Columbia, Navigata is a BC-based, privately-held voice, data and broadband Internet provider with a 55-year history of helping businesses and communities find better ways to connect, collaborate, and communicate. Navigata supports over 6,000 businesses in Canada connect offices across Canada, in the USA and around the world with personalized, cost-effective voice and data communications solutions.
About Next Layer Inc.
Next Layer is a Data Centre and Collocation services provider located in British Columbia, specializing in data solutions for companies of all sizes. The company delivers secure and private access over its extensive National and Regional network. Maintaining strong operational and customer support, Next Layer enjoys a Gold-standard customer list, ensuring a highly flexible and scalable environment for new customers.
This transaction may be subject to legal and/or regulatory approval.
Forward-Looking Statements
This press release includes "forward-looking statements" as defined by the SEC. All statements, other than statements of historical fact, included herein that address activities, events or developments that Teliphone Corp expects, believes or anticipates will or may occur in the future, including anticipated benefits and other aspects of the proposed acquisition, are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of their dates. Except as required by law, Teliphone Corp does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.