Powerstar International Completes Purchase of Xpel Communications

By | May 25, 2007 | Europe, ST Briefs

Powerstar International Inc., which provides network services over wireless, satellite and terrestrial platforms, completed its purchase of Xpel Communications AB, Powerstar announced May 24.

Powerstar issued 1.4 million shares of stock and paid $52,500 in cash to close the acquisition of Stockholm, Sweden-based Xpel, the largest provider of public Wi-Fi Internet access in the Swedish capital.

"Xpel provides immediate opportunity for Powerstar to expand its various services, including its digital signage network, into the European marketplace" David Lauterbach, president of Powerstar subsidiary Solutrea Inc., said in a statement. "We are planning to grow Xpel’s revenue adding new customers and services. We also expect to build on the relationships Xpel has established."

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