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TMCNet: Norwegian 24SevenOffice to take over IP telephony co Phonzo

[January 07, 2010]

Norwegian 24SevenOffice to take over IP telephony co Phonzo

(Telecomworldwire Via Acquire Media NewsEdge) 6 January 2010 - Norwegian online business system provider 24SevenOffice ASA (OSL: TFSO) said it agreed yesterday to buy IP telephony provider Phonzo AS for NOK13.85m.

The agreement provides for adjusting the purchase price and 24SevenOffice might partly pay it in newly issued shares. The seller is Agder Energi Venture AS, part of regional utility Agder Energy AS (OSL: AEN).

Phonzo has annual sales of some NOK14m and some 14,000 customers.

24SevenOffice will legally take over Phonzo on 30 September 2010, yet it will, based on an own outsourcing contract, assume the operating responsibility from the time of signing the deal.

(EUR1 = NOK8.2) ((Comments on this story may be sent to tww.feedback@m2.com)) (c) 2010 M2 COMMUNICATIONS

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