Bit about Metrowide communications, the company Ron Crowe (now chairman of Innofone) started and later sold....
14Aug1995 USA: ACC SUBSIDIARY ACQUIRES CANADIAN-BASED RESELLER, METROWIDE COMMUNICATIONS.
ROCHESTER, N.Y., Aug. 14 /PRNewswire/ -- ACC Corp. (Nasdaq-NNM: ACCC) today announced that its 70% owned Canadian subsidiary, ACC TelEnterprises Ltd., has acquired Metrowide Communications, a Toronto-based Canadian company.
Metrowide, established in 1989, provides both local and long distance telecommunication services to customers throughout Ontario, Canada, and has annualized revenue of more than $10 million (CDN$), or about $7 million (US$).
Commenting on the acquisition, Arunas A. Chesonis, ACC Corp. President and Chief Operating Officer, stated, "ACC Corp. is committed to the Canadian marketplace. ACC TelEnterprises' acquisition of Metrowide will allow us to compete more effectively in the vertically- integrated Canadian marketplace. Metrowide will add several significant telecommunication services to our current product lines, including Centrex resale and wide area local calling. This will help us both attract new customers and retain existing ones by packaging local and long distance products together."
Chesonis continued, "This acquisition will add approximately 10,000 customers, bringing our Canadian customer base to more than 118,000 customers. We expect this acquisition to add positive operating cash flow contributions in 1995 and beyond."
ACC TelEnterprises has scheduled a teleconference at 2:00 p.m. this afternoon, August 14, 1995. Parties interested in more detail on the acquisition are asked to dial 416-695-5801 five minutes prior to the conference time.
ACC Corp. is an international telecommunications holding company headquartered in Rochester, New York. Through its subsidiaries, ACC provides domestic and international long distance telecommunications services to business and residential customers in the United States, Canada, and the United Kingdom, as well as specialized programs for colleges, universities, and hospitals. ACC Corp. has annualized revenues of over $165 million.
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/NOTE TO EDITORS: ACC's news releases are available at no charge through PR Newswire's Company News On-Call fax service and on PRN's Web site. For a menu of ACC's news releases or to retrieve a specific release, call 800-758-5804, extension 007207, or prnewswire.com on the Internet/
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/CONTACT: Arunas A. Chesonis, COO, of ACC Corp., 716-987-3240, or Steve M. Dubnik, President & CEO, of ACC TelEnterprises, 416-236-3636/
(ACCC)
Source: PR NEWSWIRE
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