7/17/08 - Rapid Link, Inc. (OTCBB: RPID) announced that it has acquired the assets of iBroadband Networks, Inc. and iBroadband of Texas. The asset purchase of the customer bases and operating networks of iBroadband Networks and iBroadband of Texas will add over 3000 active customers and a fully deployed wireless network to the growing Rapid Link portfolio of operations.
John Jenkins, CEO of Rapid Link, commented, "We are very excited to consummate the Texas acquisitions. The iBroadband operations are very synergistic with One Ring Networks, our recent acquisition in Atlanta, and indeed offer economies of scale in both Dallas and Atlanta. A chance to grow our business through these accretive acquisitions is a rare opportunity that we feel will produce dramatic income results quickly."
Mike Prachar, Chief Operating Officer of Rapid Link, added: "By completing this acquisition, Rapid Link can now proceed with much anticipated upgrades of the iBroadband network, which will soon allow the sale of bundled voice services to the existing iBroadband customer base. Adding voice is a proven method for adding revenue and increasing value before we add a single customer."
Keywords: rapid link, ring networks, john jenkins, asset purchase, voice services, rare opportunity, economies of scale, chief operating officer, customer base, acquisitions, acquisition, networks inc, assets, ceo, WiMAX