Viper Networks announced that it obtained the necessary regulatory approvals from the FCC and various state authorities to complete its acquisition of Endstream Communications, 1stPoint Communications and all of 1stPoint’s subsidiaries, effective Nov. 1.
As a result, Viper’s board has appointed Erik Levitt (managing member, 1stPoint and Endstream) as the CEO and principal financial officer of Viper Networks, also at the start of the month. Levitt will also join the board as an executive director. Viper also appointed Kristen Vasicek (COO, 1stPoint) as board secretary and chief administrative officer, with Farid Shouekani to continue serving as non-executive chairman and president.
Viper is adopting a new corporate strategy – known as “Everything Wireless” – that includes wireless technology from the telecommunications, smart city and energy sectors. The pillars of the strategy include OTT (wholesale, retail messaging and voice services), fixed wireless, mobility, smart city and green energy generation projects. Viper will specifically address the need for enhancing CX in its markets, including the U.S., the Caribbean and Sri Lanka.
“The acquisition of these entities is a significant step forward for Viper,” said Shouekani, “By integrating the assets into our company we will realize a substantial increase in our capacity to deliver on milestones in key projects. The 1stPoint team has a long history of being able to perform under some of the most difficult conditions and maintain consistent growth.”
“We believe very strongly in the Everything Wireless strategy,” said Levitt. “One of the most significant impediments to the delivery of worldwide 5G networks is the lack of a consistent platform capable of supporting the technology. We believe that we will be able to achieve that objective on a global scale, while serving our own subscribers directly in our markets.”
The transaction was financed through a share-exchange agreement between holders of common stock of Hammer Fiber Optics Holdings (HMMR) and Viper. As part of the agreement, two parties exchanged HMMR stock as consideration for Viper stock. The agreement becomes effective upon closing. The details of the transaction have not yet been disclosed, but further information will be available in upcoming filings.
Visit 1stPoint Communications / Viper Networks at CVxEXPO24 booth #Visit 1stPoint Communications / Viper Networks at CVxEXPO24 booth #4012.
