IceWEB acquires Computers and Tele-Comm and KC-NAP
Oct 04, 2013 (MarketLine Financial Deals Tracker via COMTEX) --
IceWEB, Inc., a provider of data storage solutions, has acquired Computers and Tele-Comm., Inc. and KC-NAP, LLC (collectively 'CTC'). All the companies are based in the US.
Computers and Tele-Comm is a technology company that owns and operates a full service, expandable datacenter, a wireless Internet service provider, and a carrier-neutral network access point, while KC-NAP is a provider of Internet services.
Announcement (March 04, 2013):
IceWEB has executed a letter of intent to acquire Computers and Tele-Comm.
Source Capital Group, Inc. is acting as financial advisor for IceWEB and Computers and Tele-Comm.
Deal Type Acquisition
Sub-Category Majority Acquisition
Deal Status Completed: 2013-10-01
Target 1 (Company) KC-NAP, LLC
Target 2 (Company) Computers and Tele-Comm., Inc.
Acquirer (Company) IceWEB, Inc.
The acquisition will allow IceWEB to strengthen its position as a complete cloud services company and also add a major set of additional components, capabilities and extensions to those solutions, beginning with its own fully secure and expandable datacenter.
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