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OmniGlobe to buy RAMTelecom

Briefs | 12/16/2008 3:05 pm EST

OmniGlobe Networks Inc. has signed a letter of intent (LOI) to purchase RAMTelecom Inc. for $2.65 million. The LOI is not binding, but the two parties have agreed to negotiate a definitive agreement for the sale of all the shares of Misener Telecom Corp., the operating asset of RAMTelecom. The transaction is expected to close before February 28, 2009 and the 35th day after the execution of the definitive purchase agreement.

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