Alteva announces sale of assets of USA Datanet

theflyonthewall.com

Alteva announces the sale of substantially all of the assets of its USA Datanet business effective September 1 to an undisclosed buyer for approximately $600,000, subject to customary post-closing adjustments. This transaction will further support Alteva's growth strategy by creating internal efficiencies and streamlining the UCaaS business by eliminating a non-core platform. Although the company expects to incur some nonrecurring charges related to the transition of the business during the remainder of 2013, the reduction of costs gained by this asset sale is expected to improve the overall profitability of the business by year-end.

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