From the press: Telecom company acquires local exchange carrier business
Hammer Fiber Optics Holdings Corp., a Point Pleasant Beach telecommunications company, has agreed to acquire 1stPoint Communications LLC and its subsidiaries, including Open Data Centers LLC and Endstream Communications LLC.
The company, which does business as Hammer Communications, said in a news release that all parties have signed a letter of intent to conduct the transaction.
Hammer Fiber to Acquire 1stPoint Communications and its subsidiaries, Open Data Centers and Endstream Communications
Hammer Fiber Optics Holdings Corp (OTCQB: HMMR) d/b/a Hammer Communications announced today that a Letter of Intent to acquire the stock of 1stPoint Communications, LLC and its subsidiaries, Open Data Centers, LLC and Endstream Communications, LLC has been executed by all parties. 1stPoint is a competitive local exchange carrier operating nationwide with intellectual property in services such as SMS/texting, collaboration tools and carrier switching. Endstream Communications offers wholesale voice services worldwide. Open Data Centers operates a carrier neutral colocation facility in Piscataway, New Jersey and will provide the brick and mortar capacity to further Hammer’s growth.
“The acquisition is an ideal combination of intellectual property, creates a very strong management team and offers operational synergies for Hammer,” said Erik Levitt, CEO of 1stPoint Communications. Hammer will not only have the benefit of the exclusive rights to the patented AIR wireless technology, but also to 1stPoint’s switching technology, its underlying CLECs and its Commercial Mobile Radio Services operator.”
Hammer Communications operates a fixed wireless network, over its own proprietary wireless technology that utilizes DOCSIS 3.0 & DOCSIS 3.1 protocols. Through its access network, Hammer offers Internet, Television and Voice services to residential customer as well as small and medium businesses in Atlantic County NJ. Hammer also offers carrier class services through its fiber optic network in New York, New Jersey and Pennsylvania. Recently Hammer Communications has also unveiled it’s cloud hosting and Infrastructure as a Service platform.
“We are proud of how far we have been able to take Hammer in the past few quarters,” Said Mark Stogdill, founder of Hammer Fiber. “We look forward to how much further these acquisitions will move us in our plans. The infrastructure, intellectual property, and leadership team of 1stPoint Communications will provide unquestionable opportunities to rapidly expand our markets as well as introduce new verticals”
Kristen Vasicek, 1stPoint’s Director of Marketing added: “For many years 1stPoint has championed its New Way to Work strategy. Now we can apply that philosophy more broadly to the residential market as A New Way to Interact.”
The details of the transactions and closing dates have not been publicly disclosed.
About Hammer Fiber
Hammer Fiber Optic Holdings Corp. (OTCQB: HMMR) is a telecommunications company investing in the future of wireless technology whose holdings include Hammer Fiber Optic Investments, Ltd. D/B/A Hammer Fiber, a New Jersey-based Internet Service Provider (ISP) that offers internet, voice, video and data services in New Jersey, as well as carrier services in Philadelphia and New York. Hammer Fiber serves residential and small business markets with high capacity broadband, voice and video through both direct fiber as well as its wireless fiber platform, Hammer Wireless® AIR technology. For more information visit http://www.hammerfiber.com or contact Frank Pena at email@example.com.
About 1stPoint Communications
1stPoint Communications provides integrated messaging, voice, data and mobile services for small businesses, enterprises and carriers. 1stPoint is committed to delivering all of the services businesses need to interact with their customers, employees and suppliers, providing its clients with A New Way to Work.
Endstream is a wholesale voice operator, providing voice termination, toll origination and toll free origination services to other carrier clients.
About Open Data Center
Open Data Center is a carrier neutral colocation facility in Piscataway, NJ. It provides services to 1stPoint Communications, Core Technology Services, Endstream Communications and is a utility data center for over 20 other clients. It is a 2N+1 design with an array of nine fiber providers and 26 resident carriers make it an ideal platform for HMMRs activities.
Forward Looking Statements
This press release contains projections and other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995
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