Interlink Acquires Metro IP, Plans Operational Expansions"

Miami-based telecoms solutions provider Interlink Global has completed its acquisition of Colombian IP telephony company Metro IP, enabling it to offer wireless broadband and VoIP services in the South American country, Interlink said in a statement.

Metro IP's financial director, Sandra Restrepo, confirmed to BNamericas that the deal, which has been shrouded in uncertainty for the last few months, had been finalized.

On June 15, 2006 Metro IP shareholders reached a verbal agreement with Global Interlink Corp for the sale of 66% of Metro IP and on July 27 Interlink released a statement saying it had officially acquired Metro IP's shares.

However, the Colombians officially denied on September 5 that they put pen to paper, stating that Interlink had neither given them a date for finalizing the stock agreement to close the deal nor fulfilled other obligations agreed upon.

Interlink will provide Metro IP with technical and engineering support and supply it with the hardware and software for its VoIP internet telephony program.

Interlink also plans to put in place a WiMax network sometime in the future along the coast of Colombia, eventually connecting it on the Venezuelan border with the WiMax network offered through its NGT subsidiary in Caracas, Interlink's chairman Anastasios Kyriakides said in the statement.

"It is projected that gross yearly revenues should reach approximately US$600,000 in 2007 [in Colombia] and we project yearly gross revenues of approximately US$4mn by the end of 2008, as the company continues its expansion," said Interlink's VP Severino Rivano.

Metro IP's Motorola WiMax network currently covers metropolitan Barranquilla, as well as the suburban areas of Soledad, Malambo and Lagos del Caujara.

However, with the acquisition Interlink plans to expand its coverage throughout the country to include other cities on the northern coast like Cartagena and Santa Marta.

"Initially we are going to continue working here in Barranquilla... Our plans are to expand to other cities but not for the next few years," Restrepo told BNamericas.

According to Restrepo, Interlink's acquisition will help cover existing Metro IP debt.

Interlink Global provides SIP-based broadband telephony solutions, Wi-Fi and WiMax applications.

Metro IP offers clients services such as broadband access, virtual private networks, video surveillance and security, corporate voice over IP, web hosting, email hosting, and ASP.

BNAmericas.com"

Posted to the site on 7th December 2006