Engin Yesil, Engin Yesil , Engin Yesil, Engin Yesil, Engin Yesil, Engin Yesil, Engin Yesil, Engin Yesil
March 31, 2004 (Press Release) --
While WorldQuest, based in Dallas, didn't disclose the financial terms of the deal, Chief Financial Officer Victor Grijalva told SmartMoney.com that 29 million shares would be issued to Ntera. WorldQuest has 6.4 million shares outstanding right now. Once the merger is finalized within the next six months, Ntera will control 80% of the combined company. Existing WorldQuest stockholders will hold the remaining 20%. WorldQuest also agreed to extend a $2 million bridge loan to Ntera.
Ntera has the upper hand in the deal because it owns its own VoIP network. WorldQuest currently buys space on other's networks. Ntera's clients include Sprint (FON), Qwest (Q) and Verizon (VZ). Ntera claims its VoIP network connects 100 U.S. cities, 100 Mexican cities and 23 Canadian cities, along with major cities around the world, through a network with a capacity to handle four billion minutes a month.
Ntera has the upper hand in the deal because it owns its own VoIP network. WorldQuest currently buys space on other's networks. Ntera's clients include Sprint (FON), Qwest (Q) and Verizon (VZ). Ntera claims its VoIP network connects 100 U.S. cities, 100 Mexican cities and 23 Canadian cities, along with major cities around the world, through a network with a capacity to handle four billion minutes a month.
Email
Print
SPAM
