INTERNET COMPANY SOLD
– New Commerce Communications Inc today announced that MobilePro Corp. (OTC Bulletin Board: MOBL) has closed its previously announced acquisition of The River Internet Access Co. (http://www.theriver.com ), an Internet services provider based in Tucson, Arizona. In addition to broadband services the Company has a sophisticated data center and co-location facility. The deal is forecast to add over $4.2 million in annualized to MobilePro’s fiscal year 2005 earnings. NCC represented The River in the transaction, terms of the transaction were not disclosed.
Jay Wright, MobilePro president and CEO, said, “The River represents our largest ISP acquisition to date and is our first expansion into the demographically favorable Sun Belt. The River brings both outstanding technical capability and a customer support center where we can centralize a significant portion of our phone support traffic and thereby lower our costs. We also look forward to cross-selling cellular, local and long-distance voice services to the River’s customers.”
According to Tom Millitzer, President of NCC, “NCC became acquainted with The River several years ago when we sold them OZ Internet out of Seattle. We are pleased they had confidence in NCC to allow us to represent them in this transaction.”
About NCC:
Founded in 1994, NCC is a leading firm specializing merger, acquisition and valuation services to the Internet and telecommunications industries. The firm serves a wide spectrum of telecommunications industries including Web Host, Data Centers, Broadband, CLECs and similar companies. NCC has completed more than $200 million of Internet related services.
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