Viper Networks Secures Acquisition of 1stPoint and Endstream
Deal News | Nov 01, 2024 | Globenewswire
Viper Networks has completed the acquisition of Endstream Communications and 1stPoint Communications, including all subsidiaries, effective November 1, 2024. 1stPoint Communications brings a commercial mobile radio services license, several competitive local exchange carrier licenses, and profits from messaging, hosted voice, and web hosting services. Endstream Communications, a wholesale voice operator, provides numerous Voice-over-IP interconnections, contributing mainly through its domestic U.S. operations. The acquisition was financed via a share exchange agreement with Hammer Fiber Optics Holdings Corp. Viper's CEO, Erik Levitt, announced that revenues from the new telecommunications division will be recognized in the first quarter of 2025. 1stPoint’s management will now support Viper's operations, particularly smart city projects, underlining Viper's goals to integrate mobile networks into smart city platforms efficiently.
Sectors
- Telecommunications
- Smart City Technology
Geography
- United States – 1stPoint and Endstream Communications operate in the U.S., where Viper Networks plans to expand its telecommunications services.
- Sri Lanka – Mentioned as a location where Viper Networks has deployed smart city projects.
- Eastern Caribbean – Highlighted as a market where Viper Networks aims to expand its fixed wireless business.
Industry
- Telecommunications – The article discusses the acquisition of telecommunications companies by Viper Networks, focusing on services like VOIP and fixed wireless.
- Smart City Technology – Viper Networks is using the acquisition to enhance capabilities in smart city project deployment, integrating telecommunications with smart infrastructure.
Financials
- Not Disclosed – The financial details of the share exchange agreement and acquisition have not been disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Viper Networks | Acquiring Company | Company | A telecommunications and network engineering solution provider focusing on Smart Street Lights and Smart Poles technology. |
| 1stPoint Communications | Target Company | Company | A telecommunications firm with CMRS and CLEC licenses, generating revenue from messaging, hosting, and fixed wireless services. |
| Endstream Communications | Target Company | Company | A wholesale voice operator with significant VOIP interconnections, generating substantial revenue from U.S. operations. |
| Hammer Fiber Optics Holdings Corp | Vendor/Exchanging Party | Company | Involved in the share exchange agreement to finance the acquisition by Viper Networks. |
| Erik Levitt | CEO | Person | CEO of Viper Networks, discussing the strategic importance of the acquisition. |
| Farid Shouekani | Chairman and President | Person | Chairman and President of Viper Networks, emphasizing integration into smart city projects. |