Mergers and Acquistions News
Categories: Telecoms
November 12th 2010, 17:09PM
UK-based Primus Telecommunications Group has said it will acquire Arbinet Corporation, a US provider of telecoms services to fixed and mobile operators, in an all-stock deal worth $28 million (£17.4 million).
On completion of the deal, Primus will incorporate Arbinet into its Global Wholesale group, forecasting the creation of more than $300 million in annual revenue and accretive synergies of between $3 million and $7 million in each of the next two years.
It is expected to bring Primus' total consolidated annual run rate revenue to over $1 billion.
"This acquisition not only adds scale, but allows us to mitigate cost overlaps and is expected to allow us to realise significant synergies over time. We expect this to be a win for our customers and employees, and to generate additional value for stockholders," Peter D. Aquino, chairman, president and chief executive officer of Primus, said.
The transaction is expected to close in the first quarter of 2011.
Additionally, Primus has also begun the process of selling some its assets in the UK, France, Belgium and Italy.
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- May 2012 (0)
- April 2012 (0)
- March 2012 (0)
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)