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| [February 22, 2013] |
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Angel Telecom Announces Acquisition of Assets of Vivaro Corporation
BAAR, Switzerland --(Business Wire)--
Angel Telecom Corporation (AGLT:OTC Other) (NASDAQ:AGLT) announced today
that on February 8, 2013, Next Angel LLC, a joint venture between Angel
Telecom (Angel), Next Communications, Inc. and Marcatel
Telecommunications, LLC, acquired substantially all of the assets of
Vivaro Corporation and certain of its affiliates out of Vivaro's
bankruptcy. Angel owns a 42.5% stake in Next Angel.
Vivaro and six affiliated companies, including STI Prepaid, STi Telecom,
and Kare Distribution, filed for Chapter 11 bankruptcy protection in
September 2012. Vivaro and its affiliates sold prepaid calling cards
mainly to Hispanic customers in the United States. In addition to its
voice business to Mexico, Vivaro had a significant market share in
telephony traffic to other Latin American countries. Based on a November
30, 2012 filing with the bankruptcy court, Vivaro and its affiliates had
approximately $376 million in revenues in 2011 before several
unfortunate management decisions led to a cash crisis.
"Our strategic partnership with Next Communications and Marcatel and the
acquisition of the Vivaro assets are an important step for the uture of
our company," commented Peter Waneck, CEO of Angel. "Our entry into the
pre-paid calling card business between the United States and Latin
America creates a tremendous growth opportunity and will lead to a
substantial traffic increase on our ATTrade trading platform. Well
managed, the prepaid Cardbusiness is extremely lucrative. We believe the
potential of the prepaid calling Cardbusiness will evolve as new
technologies will make prepaid calls more attractive for current and new
customer segments. Angel plans to be at the forefront of this
development."
About Angel Telecom
Angel Telecom owns and operates ATTrade©, an online
professional trading platform for Voice over IP ("VOIP") traffic. The
platform runs on the Company's proprietary software, custom designed to
address the needs of the wholesale VOIP market. The platform has
operated continuously since September, 2006 and is utilized by nearly
500 carriers and traders. The Company principals have over 20 years
experience in the international wholesale telecom business, and maintain
long-term personal relationships with carriers and PTTs.
For more information, visit the Company's website at www.angel-telecom.com
Safe Harbor Statement
This press release may contain forward-looking statements made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such statements are subject to certain factors,
risks and uncertainties that may cause actual results, events and
performances to differ materially from those referred to in such
statements. Factors which could cause actual results to differ from
expectations include, among others, end user customer acceptance and
actual demand, which may differ significantly from expectations, the
need for the company to manage its growth, unknown competitive factors,
the need to raise funds for operations and other risks within the
regulation of the industry.

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