Titan Wireless Buys Ready Mobile MVNO

The USA based, Titan Wireless says that it has signed a letter of intent to acquire certain assets of Ready Mobile, a national Sprint Mobile Virtual Network Operator. This acquisition is consistent with Titan's stated strategic plan to opportunistically acquire and roll-up competitive MVNOs. Titan has and will target and pursue other MVNO's throughout 2007 for similarly structured acquisitions.

Ready Mobile distributes prepaid wireless communications solutions nationwide through a vast distribution network that includes more than 4,000 retailer locations. Ready Mobile generated over US$9 million in revenue and accumulated over 30,000 subscribers in its first year of operations in 2006.

"We are very excited about our planned acquisition of Ready Mobile," said Kurt Jensen, President and Chief Executive Officer of Titan's Communications Division. "Our existing retail footprint will bolster Ready Mobile's retail sales channel and the addition of Ready Mobile's wireless customers will double our active subscriber base. Furthermore, we expect to achieve additional synergies and cost savings by leveraging Ready Mobile's distribution strength and Titan's operating capabilities."

Ready Mobile currently operates under two brand-name products, Ready Mobile PCS and Mojo Mobile. Additionally, Titan will retain Ready Mobile's leadership team comprised of well-known industry veterans.

Titan Global Holdings is a diversified holding company with a portfolio of companies engaged in emerging telecommunications markets and advanced technologies."

Posted to the site on 20th February 2007