DALLAS-Paging Network Inc. expects to gain 8,000 paging subscribers through a $7.5 million cash purchase of Celpage Inc., as specified in definitive agreements between the companies.
PageNet completed acquisitions of ComTech Inc., SNET Paging Inc., PageAmerica Group Inc. and PageFlorida earlier this year and expects to complete the purchase of International Paging Corp. soon, the company reported.
PageNet Chief Financial Officer Barry Fromberg noted that aside from acquisitions this year and those which formed PageNet in the early 1980s, all the company’s growth has been generated internally. “Certain paging properties have been available that provide an attractive return and allow us to acquire regional and nationwide frequencies that will facilitate our rapid growth,” added Fromberg.
