The closing of the transaction, which is expected to occur by September 30, 2008, subject to a possible extension up to October 31, 2008, is subject to customary closing conditions, including third party consents.
Upon close, Parasun Technologies will become a wholly-owned operating subsidiary of Integrated Broadband Services (IBBS). IBBS will begin integration of the companies in the fourth quarter of 2008.
David Keil, CEO of IBBS, said: We will bring an expanded base of employee talent, resources and critical mass to improve service for our customers and accelerate the development of new capabilities, partnerships, and services.
