VoX Telecoms Acquires Storm Telecom

VoX Telecoms is on the way to expand its VoIP service through its acquisition of storm Telecom. It has already entered a binding agreement of R360 million to buy storm Telecom. The agreement would not however be settled by only cash payments from VoX Telecoms, VoX Telecoms would also loan facilities and part of its shares to ensure that they meet up to their agreement.
With over 6000 subscribers from South Africa�s largest public and private corporations, storm Telecoms an alternative telephony service provider, has been offering voice services through a variety of technologies such as VoIP Cellular; east-cost roaming and international call back, it has also been providing corporate internet services.
VoX Telecoms would surely cash-in in this opportunity and expand on its business plan and as a statement credit to the company put it �The storm acquisition as being material for VoX �... and it will considerably improve VoX�s positioning in the VoIP telephony market��.