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Phonetime finalizes purchase of Symphony

Briefs | 01/02/2008 1:25 pm EST

Phonetime Inc. has completed the acquisition of Symphony Telecommunications LLC, broadening the reach of the Mississauga-based long distance wholesaler. Under terms of the agreement, Phonetime will pay US$14.19 million in both cash, debentures and common shares for the LD wholesale provider. Symphony has operations in South Africa. Phonetime now processes more than five billion long distance minutes and has more than $150 million in annual revenue.

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