GARDEN GROVE, Calif.—Recyclable prepaid mobile phone provider Hop-On announced a significant deal, valued at more than $25 million annually, with an unnamed London-based corporation.
The corporation will purchase 1 million of Hop-On’s GSM phones per year. The phones will be distributed in the United Kingdom and Spain as part of the three-year exclusive agreement.
“We continue to secure the financial and distribution partners needed to achieve our long-term objective of making Hop-On a global brand in communications,” said Peter Michaels, the company’s chairman and chief executive officer. “This was a very strategic deal for us given the volume commitments.”
