UK-based Voiceserve, Inc. has completed the acquisition of VoipSwitch, a VoIP platform company offering an all-in-one services management platform.

 

The acquisition consisted of $1.2 million cash with 3,750,000 VSRV shares valued at $1.8 million for a total of $3 million.

 

Voiceserve paid $600,000 cash and will continue to pay the remaining balance on a monthly basis over the next year.

 

VoipSwitch, which generated a net profit of approximately $374,000 for the fiscal year ended March 2007, has an established customer base with hundreds of re-sellers.

 

Established in 2001 and based in Poland, VoipSwitch creates various types of software that enable VoIP services and create coherent, efficient and easy to manage platforms. The feature that distinguishes this platform is its integrated, embedded billing system, which scales for growth.

 

Voiceserve President and Chairman Alexander Ellinson, in a statement said, “This purchase is a tremendous milestone for Voiceserve. The acquisition is expected to contribute approximately $1 million in annualized revenues. These figures should be reflected in our 2009 fiscal year, which begins in April 2008. By joining forces, Voiceserve and VoipSwitch’s vast range of telecom features enables registered users unlimited access and control globally via the Internet. The variety of features can be adapted accordingly, giving Voiceserve an advantage with regard to competitors. We are excited to integrate our first acquisition and expect tremendous growth opportunities for our company in the year ahead.”

 

Voiceserve is a UK-based provider of low-cost Pay as You Go and prepaid cell phone services via the Internet to customers primarily in Europe, the Middle East and Africa.

 

Products include Voice over Internet Protocol (VoIP) airtime minutes bundled with optional convenient features, including virtual numbers, direct dial, web callback, and call forwarding.

 

Customers can purchase local virtual numbers, from 29 countries with as many as 50 different cities in a single country, on one Voice SIM card. Access to Voiceserve's network allows customers savings on average up to 85% on international calls.