Miami-based United American Corp (“UnitedCorp”) (OTC: UAMA) has acquired Canadian-based TNW Networks Corp (TNW) through a share exchange agreement with TNW shareholders, the company said.
TNW becomes a wholly owned subsidiary of UnitedCorp.
UnitedCorp management sees the acquisition as an important strategic component of its business plan as TNW will provide all backbone networks, cloud infrastructure and back office services to support UnitedCorp´s deployment of iPCS and iFramed through TNW Wireless Inc. and iFramed Canada Ltd which were acquired earlier this week.
The acquisition will also benefit current TNW clients as the company will now be able to provide them with next generation mobile technology in addition to current high quality telecommunications services.
The company recently completed an initial round of financing and is now in the process of undertaking a second round.
UnitedCorp is a Florida-based holding and management company focusing on telecommunications and information technologies.
TNW is a provider of telecommunications and cloud services. It has long history and is the product of a number of corporate consolidations which include Orion Communications, Dialek and Teliphone amongst others.