Hammer Fiber announced today that a letter of intent to acquire the stock of 1stPoint and subsidiaries Open Data Centers and Endstream has been executed by all parties.
1stPoint is a competitive local exchange carrier operating nationwide with intellectual property in services such as SMS and texting, collaboration tools and carrier switching. Endstream offers wholesale voice services worldwide, while Open Data Centers operates a carrier neutral colocation facility in Piscataway, N.J. that will provide the brick and mortar capacity to further Hammer’s growth.
“The acquisition is an ideal combination of intellectual property, creates a very strong management team and offers operational synergies for Hammer,” said Erik Levitt, CEO of 1stPoint Communications. “Hammer will not only have the benefit of the exclusive rights to the patented AIR wireless technology, but also to 1stPoint’s switching technology, its underlying CLECs and its Commercial Mobile Radio Services operator.”
Hammer operates a fixed wireless network over its own proprietary wireless technology that utilizes DOCSIS 3.0 & DOCSIS 3.1 protocols. Through its access network Hammer offers internet, television and voice services to residential customers as well as small and medium-sized businesses in Atlantic County, N.J. Hammer also offers carrier class services through its fiber optic network in N.Y., N.J. and Pa. Plus, the company recently unveiled a cloud hosting and Infrastructure as a Service (IaaS) platform.
“We are proud of how far we have been able to take Hammer in the past few quarters,” said Hammer Founder Mark Stogdill. “We look forward to how much further these acquisitions will move us in our plans. The infrastructure, intellectual property, and leadership team of 1stPoint Communications will provide unquestionable opportunities to rapidly expand our markets as well as introduce new verticals.”
1stPoint director of marketing Kristen Vasicek added: “For many years 1stPoint has championed its New Way to Work strategy. Now we can apply that philosophy more broadly to the residential market as A New Way to Interact.”
The details of the transactions and closing dates have not been publicly disclosed.
