Flint Telecom (OTCBB:FLTT ), an International Telecoms Technology and Services Organization, today announces that advanced discussions are under way to acquire a number of turnkey VoIP providers which are currently delivering telecom and data services to small and medium enterprises in the United States. Completion of each acquisition will bring immediate profitable revenues to the group. The projected revenues, when all planned acquisitions are completed throughout the year, are expected to reach over $20 million in 2011. The market for VoIP services in the U.S. continues to grow rapidly, particularly on mobile devices, with the Telecoms Industry Association seeing the VoIP share of total U.S. residential and business phones lines reaching 37% and 10% respectively by 2015. Ovum, the market leading research company, forecasts fixed VoIP revenues in United States reaching nearly $9 billion annually by 2014.Bernie Fried, President and COO of Flint Telecom Group, commented, "We have identified hundreds of suitable acquisition candidates, each providing similar services to end-user customers that lend themselves to operational consolidation. These companies are unable to achieve sufficient scale on their own due to size, but they have achieved the hardest aspect in growing any business, acquiring customers. By consolidating the various businesses operations under one roof, duplicate costs are eliminated and network elements are reduced to achieve greater returns from the existing revenue streams."
Vincent Browne, Chairman and Chief Executive of Flint Telecom Group, said, "We anticipate acquiring in excess of 10 companies in our telecoms unit this year. The gross margins generated from these VoIP services range from 50% to 75%, which will further enhance our stated aims of improving overall gross margins and delivering sustainable operating profits. We plan to fund the acquisitions with long term debt and deferred stock grants where feasible, to minimize market impact."
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