| V-SPAN announced Wednesday the signing of a definitive agreement to acquire Canada's Vector Videoconferencing.
The new entity will be called V-SPAN
Canada Ltd.
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The acquisition of Vector Videoconferencing allows V-SPAN to further
penetrate the global interactive marketplace. This strategic acquisition
positions V-SPAN as the largest videoconferencing and broadband gateway
service specialists in Canada, providing the organization with expansive
geographic coverage and service range.
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"V-SPAN's Canadian presence extends our global footprint beyond the U.S. and
the European operations centers. Large multinational clients will benefit
tremendously from the cost savings of utilizing V-SPAN global network,"
said Ken Hayward, president and founder of V-SPAN.
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V-SPAN will invest in the Canadian marketplace expansion and retain the
founders and employee base. The transition process will work to maintain
the same level of customer service already offered, the firms said.
"The
deal ensures that Vector's clients will continue to benefit from the
industry's best customer service and gain access to the technology and
services that will lead them into new worlds of communications," said Gordon
Phillips, president of Vector Videoconferencing.
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V-SPAN Acquires Vector Videoconferencing