Orlando, FL 1/11/12 (StreetBeat)-- Teliphone Corp (PinkSheets:TLPH) the world's local digital telecommunications company is pleased to announce that it has signed a definitive agreement for the acquisition of all the operations, technology and intellectual property of the New York Telecom Exchange Inc. (NYTEX), the world's first neutral international telecommunications commodity exchange for USD $5 million in an all stock transaction. New York Telecom Exchange Inc will receive a total of 20 million Teliphone common shares at $0.25/share.NYTEX will operate as a separate division within Teliphone and at current volumes could contribute over $25 million in annual revenue bringing Teliphone's total annual run rate revenue to approximately $31 million.
The exchange will continue to operate under the name "The New York Telecom Exchange" (NYTEX). The transaction includes all world wide operations and infrastructure of NYTEX including NYTEX's UK London data center (LondonTelex) and its European data center in Belgium (EuroTelex).
In 2011 approximately 200 million minutes were bought and sold on the NYTEX platform with a value of approximately 30 million dollars (bought and sold). In December 2011 NYTEX reached 32 million minutes bought and sold for a value of approximately 4.4 million dollars.
Lawry Trevor-Deutsch, President and CEO of Teliphone stated, "We believe that the acquisition of NYTEX's operations by Teliphone is a natural fit for the company and will bring very good value to shareholders through the synergy of being able to provide both wholesale and retail telecommunications operations to our clients and by reducing costs through shared overhead."
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