When it comes to telecoms in the Aloha state, there are few companies that have the clout of Hawaiian Telcom. The company has long been a power in the region thanks to its ability to offer up advanced solutions for its customers in the individual and business side of the market. The company just made itself a little bit bigger by finalizing the purchase of a company that was viewed as a rival in the business world. Hawaiian Telcom announced that it has officially purchased Wavecom (News - Alert) Solutions.
The acquisition of the other Hawaii- based telecommunications company is said to have a final price tag of $9.6 million. The purchase means that Hawaiian Telcom can use the applications that were previously central to Wavecom’s operations such as the interisland fiber optic network. This particular move helps Hawaiian Telcom expand what it calls its “next generation” telecommunication services while also picking off a company that was seen by some analysts as a key competitor in the area’s telecom market.
Originally founded in 2001 under the name Pacific Lightnet, Wavecom was a company that offered a wide range of voice and data services. These services were mostly being offered to small and medium sized businesses (SMBs), while it also offered its services to other telecom companies. The company currently boasts about 60 employees and 1,700 customers across the state.
“We are pleased that the acquisition has closed and we can welcome Wavecom Solutions’ employes and loyal customers into our Hawaiian Telcom Family,” Eric Yeaman, Hawaiian Telcom CEO said in a news release acknowledging the acquisition.
Yeaman added that by adding the smaller company’s fiber optics network, Hawaiian Telcom would be able to enhance its ability to service its own customers. Hawaiian Telcom announced its intention to purchase Wavecom Solutions back in July but didn’t get regulatory approval until December 28.
Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO Miami 2013, Jan 29- Feb. 1 in Miami, Florida. Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.
Edited by Brooke Neuman