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Telesphere, a nationwide business phone and Internet services provider, has entered into an agreement to acquire the VoIP services business of Unity Business Networks, a fast growing provider of IP services with market presence in Denver, Portland, Ore. and Minneapolis/St. Paul, Minn.

 

Financial terms of the agreement were however not disclosed.

 

“Today’s news is yet another exciting chapter in the Telesphere (News - Alert) story as we bring Unity Business Networks and its high-quality team and exceptional customer base into the Telesphere family,” said Clark Peterson, chief executive officer, Telesphere, in a statement.

 

Peterson said that the company intends to be the major player in hosted IP services in the United States and it will continue to act decisively to achieve this goal.

 

He said that this acquisition will nearly double the size of the company, significantly expand market presence, and add the best back-office system in the industry to the company.

 

“And for the Telesphere/Unity team and our customers, the best is yet to come,” said Peterson.

 

Bob Paulsen, chief executive officer, Unity said that he is proud of everything the Unity team has accomplished over the past few years.

 

Paulsen said that Unity brings exceptional experience and focus on a reliable network, quality systems, customer service as well as a premier back-office system.

 

“Our strengths complement Telesphere and together will allow us to become the leading provider for hosted telecommunication solutions,” said Paulsen.

 

Unity Business Networks was founded in 2003 and has been a notable success story in Denver’s business community. The company has demonstrated consistent revenue and customer growth over the last six years.

 

“This acquisition roughly doubles the marketplace for Telesphere,” said Jeff Kagan, a telecom industry analyst based in Atlanta.

 

Kagan said that Telesphere is becoming a fast-growing IP phone and Internet service provider aimed at the Hosted VoIP and Managed IP PBX (News - Alert) marketplace for business customers.