PrimeLink Systems (www.primelinksystems.com) has signed a Letter of Intent with FiberOneTel Services, which is based in Sulphur Springs, TX. The transaction represents a stock-for-stock exchange resulting in FiberOneTel becoming a wholly owned subsidiary of PrimeLink.
The definitive merger agreement is to be completed on or before November 30, and PrimeLink expects the transaction to close before the end of the year. FiberOneTel's year-to-date revenue exceeded $2.5 million and PrimeLink expects the transaction to be accretive to earnings immediately.
FiberOneTel Services, Inc. is a minority-owned privately held telecommunications service provider that was organized during the first quarter of 2000. The company is a full-service telecommunications contractor that provides a wide range of design, construction and installation services to the cable television, telephone, utilities, optical fiber and data transmission industries.
The principals of FiberOneTel were formerly employed by Koch Industries, Inc. until 1999, during which time they became part of the original management team of PF.Net, a company formed between PF Telcom, LLC and Koch Telecom Ventures, Inc., a wholly owned subsidiary of Koch Industries, Inc., to develop fiber-optic networks.
FiberOneTel specializes in fiber connection services, construction of regeneration facilities, equipment installation and testing, cable splicing, aerial including tower installation, and other inside-plant services related to the telecommunications industry.
