FORT WORTH, Texas-Teletouch Communications Inc. said it has acquired Progressive Concepts Inc., a Cingular Wireless L.L.C. master distributor, reseller and mobile virtual network operator in Texas and Arkansas.
PCI primarily operates under the Hawk Electronics brand name.
All of PCI’s outstanding securities were contributed to Teletouch by TLL Partners L.L.C., which holds 82 percent of Teletouch’s outstanding common stock. Teletouch did not pay cash or stock considerations for the contribution, said the company.
Teletouch provides paging and two-way wireless services.
“The company will now serve approximately 100,000 cellular, wireless messaging and two-way radio subscribers, agents and independent retailers throughout our region and the country,” said T.A. “Kip” Hyde Jr., chief executive officer of Teletouch.
Teletouch recently hired Masur & Associates to assist it with strategic business opportunities including potential acquisitions.
