Unedited news and product information from vendors.
Teliphone Corp. Announces the Sale of its IPTV Assets to Coastline Broadcasting Ltd.
Jul 18, 2013 (01:07 PM EDT)
VANCOUVER, July 18, 2013 /CNW/ - Vancouver-based Teliphone Corp. (OTCQB:TLPH), one of the world's local digital telecommunications companies, announced today that it has reached an agreement to sell all its IPTV (Internet Protocol Television) assets to Coastline Broadcasting Limited of Black Creek, British Columbia.
The sale provides for the transfer of all Teliphone's IPTV infrastructure to Coastline, currently a regional cable provider in British Columbia and member of the Canadian Cable Systems Alliance, which will use the technology as an additional method of distributing digital TV to its current subscribers as well as expanding its service to new subscribers. As a result of the agreement, Teliphone becomes an authorized re-biller of Coastline new media services.
The Company will file any required disclosures with the US Securities and Exchange Commission within the prescribed period.
About Teliphone Corp. / Teliphone Navigata-Westel Inc.
From its origin in 1957 as BC Rail Telecom, to its evolution into Teliphone Navigata-Westel, the company, with over 117 employees and over $43 million in annualized sales, it is now one of the largest independent facilities-based Competitive Local Exchange Carriers (CLEC) in Canada. The company provides voice, data, broadband Internet, IT support, Cloud computing, Co-location data centres and IPTV service across Canada. Teliphone services carriers, business, government and residential customers on a national network which includes a wireless backhaul network, a trans-Canada SONET fibre optic network and multiple CLEC/ILEC mutual CO facilities. Teliphone also operates a US network and its voice and IPTV services are available in 47 countries.
About Coastline Broadcasting Ltd.
Coastline Broadcasting Ltd. is a regional cable television operator in British Columbia. It currently serves 800 subscribers in the Courtenay region.
This press release includes "forward-looking statements" as defined by the SEC. All statements, other than statements of historical fact, included herein that address activities, events or developments that Teliphone Corp expects, believes or anticipates will or may occur in the future, including anticipated benefits and other aspects of the proposed acquisition, are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of their dates. Except as required by law, Teliphone Corp does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Teliphone Corp.