Unified Communications Industry News

TMCNet:  Angel Telecom JV acquires assets of Vivaro Corporation and affiliates

[February 25, 2013]

Angel Telecom JV acquires assets of Vivaro Corporation and affiliates

Feb 25, 2013 (M2 EQUITYBITES via COMTEX) -- Angel Telecom Corporation (OTC Other:AGLT) (NASDAQ:AGLT), owner and operator of ATTrade, an online professional trading platform for VoIP traffic, declared on Friday that Next Angel LLC, a joint venture of the company, has acquired substantially all of the assets of Vivaro Corporation and certain of its affiliates out of Vivaro's bankruptcy.

No financial details were disclosed.

Angel owns a 42.5% stake in Next Angel. Its joint venture partners are Next Communications Inc and Marcatel Telecommunications LLC.

Vivaro and six affiliated companies, including STI Prepaid, STi Telecom and Kare Distribution, filed for Chapter 11 bankruptcy protection in September 2012. The company and its affiliates sold prepaid calling cards mainly to Hispanic customers in the United States. According to Angel, in addition to Vivaro's voice business to Mexico the business had a significant market share in telephony traffic to other Latin American countries.

As per a filing with the bankruptcy court on 30 November 2012, Vivaro and its affiliates had approximately USD376m in revenues in 2011 before a cash crisis which resulted from a series of unfortunate management decisions.

Comments on this story may be sent to info@m2.com

[ Back To Unified Communications's Homepage ]

Request a Quote
Become a Partner
White Papers
Customer Service in the Age of the Cloud
The ability to provide excellent customer service matters more than ever, given the expectations of consumers today. Take a recent report from Microsoft on the state of customer service, for example ...
Cloud Solutions Take the Stress Out of Moving Offices
Moving offices or opening a new location can be a serious challenge.The logistical hurdles can be daunting...
Case Studies
Gilbane Company Building
Gilbane works on large construction projects that typically last about 1-3 years. As a result, project trailers need to be equipped with a state-of-the-art phone solution but capital cost constraints prohibit purchasing equipment that will only be used for a few years...
Sable Natural Resources
Sable Natural Resources required a more flexible voice solution with advanced capabilities in combination with cost savings...
Product Sheets
FusionWorks is a cloud-based phone, conferencing, messaging and collaboration service that combines the cost savings of cloud services with the productivity of Unified Communications (UC)...
Web Collaboration
Fusion Web Collaboration is a web and video conferencing tool for hosting online meetings, webinars and training...