PLANO, Texas-ProNet Inc. signed letters of intent to purchase the paging assets of four privately owned companies for a total of $9.5 million.
The companies are Lewis Paging Inc. of Georgia, Gold Coast Paging Inc. of Florida, Denton Enterprises Inc. of Virginia and MetroTones Inc. of Washington, D.C./Baltimore.
ProNet said the transactions will add approximately 34,000 paging units to its Southeast region subscriber base. The proposed acquisitions are subject to various conditions and approvals, with closings anticipated in the fourth quarter of the year.
In related news, the company said it completed its purchase of the paging assets of New York-based Carrier Paging Systems Inc. on April 1. ProNet said this acquisition added more than 31,000 subscribers to its Northeast operations.
“With the completion of the Carrier acquisition, our Northeast SuperCenter region now serves more than 252,000 subscribers, making us one of the leading paging companies in that area. The four new transactions increase ProNet’s Southeast SuperCenter region to 80,000 subscribers and provide strategic frequency resources,” said ProNet Chairman Jackie Kimzey.
Since March 1994, the company said it has acquired 241,000 subscribers and has an additional 284,000 subscribers in pending acquisitions. Once these transactions are completed, ProNet said it will provide service to more than 700,000 paging subscribers.
