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Teliphone Corp Announces Execution of Non-Binding Letter of Intent for Acquisition of Next Layer Inc


Wednesday, 17 Apr 2013 03:57pm EDT 

Teliphone Corp announced that it has executed a non-binding Letter of Intent with Cascade Divide Enterprises Inc. to acquire Next Layer Inc. The acquisition of Next Layer would substantially increase the Company's colocation service by adding to its existing data center, four new data centers in Canada. As part of the transaction, Teliphone will complete the development and operation of a sixth Data Centre in Kamloops, British Columbia which is expected to become Teliphone's National Disaster Recovery Center owing to its geographically-stable, strategic location. All Teliphone data centers are interconnected through its Canada/US national SONET fibre optic network. This center is expected to be attractive for both Canadian and non-Canadian clients. The transaction is subject to completion of due diligence, and the negotiation and drafting of a final Share Purchase Agreement, as well as the satisfaction of additional closing conditions. Subject to the above, the transaction is expected to close on or about April 30, 2013. Terms of the transaction were not disclosed. 

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0.0499
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22 Jul 2014