SkyPort Acquisition Of RAMTelecom Called Off
SkyPort Global Communications Inc. and RAMTelecom Inc. agreed to terminate the proposed acquisition of RAMTelecom by SkyPort, the companies announced May 22.
SkyPort signed a letter of intent in February to purchase RAMTelecom Inc. and had expected to complete the deal before the end of May. The companies have agreed to explore more partnership opportunities.
â€œWe recognize the common synergies between the two companies and strengthening the existing business-to-business relationship will help us expand our satellite-based business communications services,â€ Ralph Misener, CEO of RAMTelecom, said in a statement.
â€œOur relationship with RAMTelecom is strong, and we wish to continue to grow it through our partner program,â€ Patrick Brant, president and CEO of SkyPort, said. â€œThere are many complimentary aspects between our two companies and we look forward to working with them.â€