These two companies represent the first of several key acquisitions Reignmaker seeks to make this year
Atlanta, GA (PRWEB) March 28, 2007
Reignmaker Communications, a leading privately held VoIP Hosted PBX telephony company, today announced that they have completed the acquisition of two Georgia-based communication companies, CyberSouth Networks and Swifttel Communications, for an undisclosed amount of cash and stock.
"These two companies represent the first of several key acquisitions Reignmaker seeks to make this year," said Steve Smithwick, CEO of Reignmaker Communications. "These companies fit our acquisition profile, which identifies companies that can add compatible SME customers onto our Hosted PBX platform to increase the size and profitability of our customer base. Through acquisitions of companies like CyberSouth and Swifttel, Reignmaker plans to aggressively, yet strategically expand upon its reputation as one of the leading Hosted PBX Service Providers in the country."
As part of these acquisitions, Reignmaker will be picking up a CLEC license in Georgia, which will operate within its new, wholly owned subsidiary named Reignmaker Telecom, Inc.
Reignmaker's growth strategy partner is Stanford Group Company, which is assisting Reignmaker in evaluating targeted acquisitions and related capital structuring.
In addition to acquiring a customer base of over 3,800 Internet access and web hosting customers, Reignmaker has also gained access to a substantial amount of network assets, including a BroadSoft softswitch, OC-12 fiber ring, and co-location facilities in Atlanta, Savannah, Augusta, Albany, and Vidalia, Georgia.
"These acquisitions, along with the infrastructure, contracts and customer-base they bring to the table, will help Reignmaker achieve greater critical mass as well as significant cost of goods efficiencies in all existing markets." said Glenda Capeling Mills, CFO of Reignmaker Communications.
Stanford Group Company acted as the advisor for Reignmaker.
About Reignmaker Communications, Inc.
Reignmaker Communications is the world's first end-to-end communications provider, enabling small to medium-sized business (SME) customers with comprehensive communication and technology services on both sides of the "traditional" demarcation line via its nationwide flagship product, Reignmaker REIGN-FREETM Hosted Voice service. REIGN-FREE is a Centrex/PBX-replacement service which provides a vast array of web-based feature functionality and advanced call-handling flexibility at a lower total cost of ownership. Reignmaker Communications is a privately held company headquartered in Atlanta, GA and offers service in over 400 U.S. cities and has been in business since 1996. For more information, visit Reignmaker at http://www.reignmaker.net or contact Bill Casey, vice president of marketing, at 404.975.0093.