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Optic Communications Announces Asset Acquisition of Red River Networks

Posted on: Monday, 23 May 2005, 21:00 CDT

International telecommunications service provider Optic Communications announced today the acquisition of the assets of Red River Networks LLC, an Oklahoma-based telecommunications service provider of international long distance, enhanced calling card, and voicemail services. The acquisition included the wholesale customer base of Red River Networks comprised primarily of competitive local carriers in Texas, Oklahoma, and Arkansas, and constitutes over $10 million in annual revenues. The transaction includes an agreement that Red River will remain a separate company and will market Optic Communications' services to larger wholesale customers.

The acquisition is another component of Optic's commitment to growth and increased market share. The Company recently commenced operations at its newly established call center in Manila, Philippines. Optic's Manila call center became necessary to accommodate the expansion of the Company's international customer base in the United States, Australia, Ireland, Canada, and the United Kingdom. "This acquisition strengthens Optic Communications and that will inherently benefit all Optic customers. We look forward to the challenge of providing these new customers the first-rate service they deserve," explained Optic Communications' Vice President of Operations, Stu Bivans.

Source: Business Wire

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