OTTAWA – Canadian satellite service provider (business voice and data) RAMTelecom said today it has signed a deal with Houston, Texas-based SkyPort Global Communications to sell the Canadian company for $0.60 a share, or about $8.5 million.
Ottawa-based RAMTelecom is a satellite service provider delivering flexible, scalable solutions for broadband data and voice business communications. Its satellite services are designed to meet the fixed and mobile communication requirements of medium and large enterprise customers in oil and gas, mining and government agencies operating anywhere in North America.
RAMTelecom anticipates that SkyPort’s due diligence will be completed and the definitive agreement will be entered into by April 23, 2007, with the disclosure documents mailed to shareholders in mid May, 2007, a shareholders’ meeting, if required, to be held in late June, 2007, and with the closing to occur by June 30, 2007, says the press release.
"The acquisition of the Ramtelecom enterprise will provide a more comprehensive offering for SkyPort and reach into Canada as we build out our world wide coverage. There is a distinct benefit for SkyPort clients who have global and North American requirements," said Bill Hutchinson Co-CEO of SkyPort, a global communications firm providing managed, secure, broadband satellite and terrestrial communication services. It operates a Network Operations Centre and teleport at Ellington Field Joint Reserve Base in Houston, Texas.
