LOS ANGELES-SmarTalk TeleServices Inc. said it completed its acquisition of ConQuest Telecommunications Services Corp., following “overwhelming approval by shareholders of both companies.”
Under the terms of the acquisition, each share of ConQuest common stock will be converted automatically into the right to receive 7.63 shares of SmarTalk common stock. ConQuest will become a wholly owned subsidiary of SmarTalk.
ConQuest, based in Dublin, Ohio, markets prepaid calling cards in a distribution network of convenience stores and service stations. The acquisition adds 6,000 retail locations to SmarTalk’s distribution network. The ConQuest buy comes on the heels of SmarTalk’s acquisition of American Express Telecom last month. The company has completed six acquisitions in the past seven months, making it the largest publicly traded prepaid provider in the country, SmarTalk said.
