BELLINGHAM, Wash.-Dynacom Telecommunications Corp. said it executed a letter of intent to purchase Jeffrand Inc., doing business as The Wireless Outlet, Pro Cell Communications and S&R Pager Repair.
The transaction includes a cash payment of $311,730 plus the issuance of nearly 1.1 million restricted shares of Dynacom.
Jeffrand was formed in 1994 to sell and maintain pagers and paging services on a wholesale level, said Dynacom. In 1995, the company expanded services into reselling traditional cellular products and selling prepaid cellular service.
“With the acquisition of Jeffrand Inc., and their established presence in the market sector, all of the elements are now in place to become a significant national player in the burgeoning prepaid cellular market,” said Brian Harris, president of Dynacom.
Jeffrand had sales exceeding $1.5 million last year.
