VANCOUVER, British Columbia, Feb. 11, 2013 (GLOBE NEWSWIRE) -- Vancouver-based Teliphone Corp. (OTCQB:TLPH), one of the world's local digital telecommunications companies, is pleased to announce that it has completed a share purchase agreement through an acquisition entity, of Vancouver-based Titan Communications Inc., also operating as Galaxy Multimedia Inc.
The acquisition of Titan represents another step in the execution of Teliphone's growth strategy. Titan is Canada's leading provider of white label Voice over IP solutions for carriers and Internet Service Providers. With over 40 such partners it delivers services to over 8,000 residential customers in Western Canada, which will complement Teliphone's residential client base in Eastern Canada. These clients will now have access to Teliphone's full suite of telecommunications services such as its triple play which includes IPTV. Teliphone will be able to implement for its clients, Titan's soft phone application currently operating on iPhone and Android platforms. Titan also services small to medium sized businesses for Voice over IP, hosted PBX and SIP trunks.
Titan's President John Farlinger stated, "We are very happy to now be part of the Teliphone family. Access to Teliphone's extensive national infrastructure and organizational support will allow us to implement an aggressive growth strategy that would not have been possible before the acquisition".
Teliphone's Western Vice President, Mike Schmidt stated, "The acquisition of Titan provides Teliphone's with a launch point into the Western retail market as well as immediately expanding our existing business to small to medium sized companies."
Financial details of the transaction will be released through a Form 8K to be filed with the US Securities and Exchange Commission within the prescribed period.
This transaction may be subject to legal and/or regulatory approval.
About Teliphone Corp. / Teliphone Navigata-Westel Inc.
From its origin in 1957 as BC Rail Telecom, to its evolution into Teliphone Navigata-Westel, the company is now one of the largest independent facilities-based Competitive Local Exchange Carrier (CLEC) in Canada providing voice, data, broadband Internet, IT support, Cloud computing, Co-location data centres and IPTV service across Canada. Teliphone services carriers, business, government and residential customers on a national network which includes a wireless backhaul network, a trans-Canada SONET fibre optic network and multiple CLEC/ILEC mutual CO facilities. Teliphone also operates a US network and its voice and IPTV services are available in 47 countries.
About Titan Communications Inc.
Titan Communications Inc. is a national provider of phone and communications to residential customers as well as to small/mediums sized businesses. It provides these clients the same functionality available to large enterprises without the associated expense.
It offers telephony services including residential Voice over IP and business services such as hosted PBX SIP trunking and Virtual Office.
Customers communication services are supported by an enterprise communication backbone: 24x7 monitoring, multiple redundant systems, QoS expertise in high-latency networks and proactive network management & continuity - all anchored by connectivity agreements with multiple Tier 1 providers.
This press release includes "forward-looking statements" as defined by the SEC. All statements, other than statements of historical fact, included herein that address activities, events or developments that Teliphone Corp expects, believes or anticipates will or may occur in the future, including anticipated benefits and other aspects of the proposed acquisition, are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of their dates. Except as required by law, Teliphone Corp does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Teliphone Corp. Lawry Trevor-Deutsch Titan Communications Inc. John Farlinger Tel: +1 604 990-2000