TORONTO--(BUSINESS WIRE)--Telehop Communications Inc. is pleased to announce that it has acquired the business assets of iRoam Mobile Solutions Inc., a Canadian company that operates under the iRoam and Brightroam brands in the United States and Canada. The company provides global cellular phone communications services, SIM cards, roaming devices and worldwide Wi-Fi roaming solutions that are sold directly and through distributors for use around the world.
The purchase price of the asset group is $400,000 which may be reduced if revenues in the first 12 months following the purchase are less than $1 million, and if revenues in the first 12 months exceed $1.2 million the purchase price will increase by $100,000. $170,000 of the price was paid on closing and the balance by way of a 12 month promissory note which will be subject to the price adjustments noted above.
The addition of the iRoam business will complement Telehop's existing product line and is expected to contribute to the net income of the company in the upcoming year.
“Business travelers are requiring high speed Wi-Fi and the ability to have global SIMs in countries they are doing business in. This acquisition allows us to further develop a global wireless offering to business and consumers that delivers great value, ease of use and fast data speeds that users require,” said Rajiv Jagota, President CEO, Telehop.
iRoam and Brightroam’s product offerings include international voice and data through top global wireless carriers, SMS messaging and access to 1.1 million Wi-Fi hotspots globally including inflight Wi-Fi on a number of major airlines. Enterprise packages can be custom built for a business’s unique workforce and scaled as required with prepaid or short term subscription options. For more information see www.brightroam.com and www.iroam.com for more product details.
Telehop Communications Inc. (TSX-V:HOP) was founded and headquartered in Toronto, Ontario in 1993, and has grown into one of the largest alternative telecommunications providers to both residential and business customers.
Telehop originally began offering residential and business two-way monthly "flat rate" calling services in the Greater Toronto area between communities where a call would otherwise be a long distance call. In 1994, Telehop became one of Canada's few Equal Access Long Distance Providers, allowing it to offer its customers full service long distance calling globally at significantly lower rates. The Canadian Radio-television and Telecommunications Commission ("CRTC") has licensed Telehop as a Class "A" telecommunications carrier.
Telehop's dedication and priority is providing residential and businesses with exceptional phone services at competitive rates without sacrificing quality service.