TROY, Mich., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Viper Networks (OTCPK: VPER) has applied for the necessary regulatory approvals from the Federal Communications Commission and various state authorities in order to complete the acquisition of the telecommunications assets of Hammer Fiber Optics Holdings Corp. The acquisition includes Endstream Communications, LLC and 1stPoint Communications, LLC and all of its subsidiaries. The closing date is anticipated to be in the fourth quarter of this year, subject to obtaining regulatory approval.

“We are very pleased with the progress we are making toward closing the acquisition,” said Erik Levitt, CEO of 1stPoint Communications and Endstream Communications. “We anticipate being able to complete the process in the timeframes originally contemplated by management and Viper’s Board of Directors.”

With the acquisitions Viper will adopt a new corporate strategy: “Everything Wireless.” This strategy will now include five pillars: smart city, mobility, fixed wireless, OTT and energy generation projects. Smart city will include Viper’s existing projects in the United States and Sri Lanka, which are continuing to progress. Mobility and fixed wireless will rely on the licensing and relationships of 1stPoint Communications and its subsidiaries. The OTT, or “over-the-top” segment accounts for the majority of the revenues of 1stPoint and Endstream today, which includes wholesale voice services, hosting services and messaging services. Energy generation projects will be an expansion of Viper’s existing business, predominantly in markets outside the United States.

Last quarter the telecommunications businesses Viper is acquiring, subject to the regulatory approvals discussed above, had revenues of over $770,000 and positive cash flows. “We continue to see strong growth in our messaging services business unit as we plan to expand on our fixed wireless business segment. Our intention continues to be to expand our mobile footprint in the United States and Caribbean markets. With access to the technology, contacts and capabilities of Viper we can address the issues of the deployment of new technologies such as 5G more easily,” added Levitt.

“We are very excited to welcome Endstream Communications and 1stPoint Communications and its subsidiaries into the Viper family,” said Farid Shouekani, Viper’s Chairman. “We are looking forward to working with a bright and dedicated team that will help Viper execute on its business objectives in some of the fastest growing segments of modern technology.”