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[January 15, 2013]
Digital Utilities Ventures acquires 100% stake in TORQ Communications
Jan 15, 2013 (Datamonitor Financial Deals Tracker via COMTEX) -- Digital Utilities Ventures, Inc. (DUV), a developer of web video transport systems, has acquired 100% stake in TORQ Communications, LLC, a company engaged in data networking and traditional telephony building and in implementing business-grade Voice over IP (VOIP) services. Both the companies are based in the US.
Announcement (May 2, 2012): DUV has agreed to acquire 100% stake in TORQ Communications.
TORQ had generated revenue of approximately $16 million in VoIP traffic.
Deal Type Acquisition Sub-Category 100% Acquisition Deal Status Completed: 2013-01-14 Deal Participants Target (Company) TORQ Communications, LLC Acquirer (Company) Digital Utilities Ventures, Inc.
Deal Rationale The acquisition will allow DUV to establish it as true digital utility.
It will also allow TORQ Communications to strengthen its new broadcast network called Vizzage which will allow users to develop their own content and upload it to TORQ's IPTV Broadcasting network.
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