Florida-based inZon Corporation has announced that it has signed a letter of intent to acquire a high speed Internet and franchised cable television provider with operations in five Midwestern states.

 

The communication company has not disclosed the name of the cable operator it is acquiring, nor did it say anything about the financial details of the deal.

 

InZon says the deal is likely to close in tandem with the CLEC that it claimed to be acquiring in February this year. The latest acquisition deal is subject to the signing of definitive agreements and customary closing conditions.

 

When the company announced it was acquiring CLEC, inZon had anticipated to add more than 10,000 additional customers to its customer base. What is sure is that the latest acquisition will reinforce inZon in America’s fiercely competitive cable industry.

 

Last year, inZon Corporation expanded into the Pacific by picking up a 50 percent stake in South Pacific Management Holdings, provider of wireless services in the Pacific region. The acquisition was closed with newly issued shares of inZon's common stock.

 

“This acquisition, combined with a solid CLEC and long distance carrier, will significantly expand our customer base and result in almost immediate accretive earnings,'' said Sidney Camper III, inZon's president and CEO, in a press release.

 

Founded in 1987, inZon Corporation operates as a global communications company, utilizing its multiplexing network for both voice and data services. Its software application group owns a group of proprietary operations control support software (OCSS), licensed to a range of clients from the broadcast, telecom, media, satellite, and other industries.

 

In addition, the company's VeriCash Division develops systems for stored value/mobile wallet payment technologies designed to allow users to send money from their cell phone, and acts as a virtual point of sale device via secure modes in various countries worldwide.

 

Its subsidiary, WorldHub Exchange, provides neutral centralized switching facilities and exchange services, as well as offers satellite, telecommunication, and disaster recovery facilities in a joint venture with NewCom International. This enables clients with project management and engineering solutions, a network operations center, and facilities for various communication needs.