TUCSON, Ariz.-Cell Wireless Corp. is set to acquire EzTel L.L.C., a Voice over Internet Protocol wireless broadband and long-distance provider, according to a contingent contract between the companies.
Mississippi-based EzTel specializes in sales to large groups, charities, associations and chambers of commerce in the United States. The company has generated sales of about $55 million since it was formed in 1999, including $10 million in revenues during 2005.
The contract is contingent on Cell Wireless gaining financing to fund the transaction. Cell Wireless said it will issue 36 million shares of its restricted common shares and pay $3.5 million in cash for EzTel liabilities.
Cell Wireless provides discounted telephone minutes and free VoIP PC-to-PC and serves more than 60,000 customers in the United States and Canada.
