High Wire Networks Inc. announced the Company has finalized its agreement to acquire the business of Secure Voice Corp. (SVC), a wholesale network services provider with facilities in the Northeast and carrying traffic across the United States.
SVC’s network carries voice over IP (VoIP) and data traffic for service providers. The purchase was accomplished through a combination of cash, assumption of debt, and stock valued between $6.5 million and $9 million.
This transaction is expected to be accretive to High Wire immediately. The acquired assets provide strong recurring revenue and a history of significant profitability with unlimited potential for scale and future add-on acquisitions. The new assets and nearly 200 channel partners will become part of High Wire’s Overwatch recurring revenue services line of business.
“We are extremely pleased to close this transaction and accelerate our growth trajectory by adding another key piece of our overall strategy to be a leading provider of technology services to our clients,” said Mark Porter, CEO of High Wire. “As we grow the portfolio and execute on our strategy, we continue to build shareholder value for the long term, while driving growth in the short term.”
Source: High Wire Networks
