Telecommunications provider Dialpoint Communications announced on Thursday it has completed the asset acquisition of colocation and Web hosting provider Hostigation.
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Dialpoint says it plans to expand Hostigation's product lines and distribution capabilities to strengthen Dialpoint's position in the colocation and Web hosting markets.
Once the transaction is completed, Dialpoint says it will issue unregistered shares of its common stock totaling 333,334 shares. The certificates representing the shares of common stock will have restrictive legends. Additionally, Hostigation customers will not see any changes to their existing service plans or rates.
"We are very pleased with the acquisition of Hostigation.com," says Billy Radford, president of Dialpoint Communications.
"This transaction will allow Dialpoint Communications to not only extend its product offerings but also add to network diversity by bringing two operational data centers into the company's network topography allowing for more switch diversity throughout the country."
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