International Telcom LLC, a Mahwah-based provider of data analytics and call routing technology, has agreed to acquire the telecom business of a Pittsburgh-based firm and rebrand the combined company, it announced this week.
The company said in a news release that it has signed a definitive purchase agreement for the business belonging to Magna5, a platform company of Radnor, Pennsylvania-based NewSpring Holdings. The business includes Magna5’s national switching and routing platforms, which have more than 3,000 customers in the government and enterprise sectors.
After completion of the deal, ITL will rebrand as RingSquared, it said.
The deal will enhance ITL’s product offerings, as well as adding offices and other facilities to its holdings. Magna5 plans to concentrate on its managed information technology services business.
“I see this acquisition as a perfect fit that enables us to acquire additional telecom service offerings with an attractive customer base, plus the added benefits of providing our existing customer base with (Unified Communications-as-a-Service), (software-defined networking in a wide area network) and other voice and data services currently sold by Magna5,” Kevin Alward, ITL’s CEO, said in a prepared statement.
The transaction is expected to close in the fourth quarter, subject to customary approvals and conditions.