FOR IMMEDIATE RELEASE
WAVE2WAVE COMMUNICATIONS AND RNK COMMUNICATIONS COMBINE FORCES
Hackensack, NJ, and Dedham, MA (October 22, 2007) - Wave2Wave Communications™ ("Wave2Wave") and RNK Communications™ ("RNK") today announced a merging of the two companies. Wave2Wave, headquartered in Hackensack NJ, is a provider of managed data transport and VoIP services to thousands of business clients and over half a million end-users throughout the United States. RNK, headquartered in Dedham, MA, is a facilities-based Competitive Local Exchange and Interexchange Carrier, providing voice services worldwide.
Each company will keep its corporate identity while capitalizing on the strengths of the other. By combining Wave2Wave's data transport and VoIP focus with RNK's telecom expertise, the merger creates a powerful and unique company that will make a major impact on the enterprise marketplace.
"The companies are a perfect fit with tremendous synergies," said Steve Asman, President of Wave2Wave. "With thousands of business clients connected to Wave2Wave's network, we can now offer the full suite of voice services and quality care that has become the trademark of RNK. This will further differentiate us from our competitors, and will give our clients world class services and support that they have become accustomed to."
RNK, which recently announced an expansion of its network footprint across the Atlantic Coast, will continue to expand its wholesale operations, as well as provide local and long distance services to Wave2Wave customers in major markets throughout the country.
"We anticipate tremendous growth for both companies as we can cross sell and provide not only traditional telephone services but offer the latest in data transport technologies," said Richard Koch, President of RNK. "This merger makes Wave2Wave and RNK one of the leading providers of carrier, wholesale, and enterprise services in the nation."
With over 250 employees, the combined companies will have revenues in excess of one hundred million dollars. Exact terms of the transaction have not been disclosed. Management of both companies will remain intact and continue to operate as separate subsidiaries.
"Wave2Wave will now have the full benefit of a regulated telephone company providing extensive and reliable network connectivity for their thousands of customers, and RNK will have direct access into thousands of businesses and over five hundred thousand end-users to provide cutting edge telephony services. It's truly a win-win," added Koch.
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