Blue Casa Telephone has closed the acquisition of bankrupt TNCI, which will continue to operate under its own brand. It has not yet announced how it will handle TNCI’s existing agent agreements however.
A spokesperson for Blue Casa/TNCI told Channel Partners that “TNCI has worked to get many agent agreements completed with [more than half of its] existing agents and is working to sign even more agents.” However, details have not yet been released.
TNCI agents have been waiting to find out the fate of their customer accounts, residual commissions and portfolio options as the reseller completes its acquisition by Blue Casa.
The U.S. Bankruptcy Court in Massachusetts recently ruled in favor of compelling Blue Casa to either accept or reject the existing contract that the Agent Alliance has in place with TNCI by the initial closing date of the acquisition.
TNCI filed for Chapter 11 bankruptcy protection Oct. 9, 2011, after which Blue Casa made a “stalking horse” bid for the company. Blue Casa, a residential VoIP provider which does not have an agent program in place, has been in “negotiations,” it said, to decide what to do with TNCI’s channel partner contracts, but has not yet released its plan for assimilating the new sales model.
The Agent Alliance said that it became concerned when none of the TNCI agent agreements were included in the list of contracts Blue Casa told the court it was interested in assuming in the acquisition.