AltX-listed TeleMasters has acquired Motion Telecommunication's least-cost routing (LCR) business for an undisclosed sum.
Motion Telecommunication is a subsidiary of Altech Autpage.
Speaking to employees this morning, TeleMasters CEO Mario Pretorius said the company continued to discuss opportunities with Altech Autopage.
<B>Correction</B>
Since the publication of this story, ITWeb has learnt that Motion Telecommunication is an Altech Autopage dealer, rather than a subsidiary. ITWeb apologises for any confusion this error may have caused.
"Altech Autopage is not really the seller here, they are more of a partner. We may do more with them."
He added: "The purchase of Motion Telecommunication's LCR business will increase revenue by about R1.4 million and profit after tax by R1.1 million on an annual basis."
In a notice to shareholders, TeleMasters advised that further negotiations are still under way and its trading cautionary remained in place.
TeleMasters listed on the JSE's Alternative Exchange on 12 March 2007.
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