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December 21, 1997updated 03 Sep 2016 7:17pm

TELESAVE TRIES AGAIN WITH ACQUISITIONS – BUYS SYMETRICS

By CBR Staff Writer

US long distance business carrier Tel-save Holdings Inc, which has already put in two recent acquisition bids that have both been trumped by competitors bids, has finally managed to acquire a telecoms company. Although this time the Tele-Save hasn’t managed to buy a telecoms operator, and has instead got a telecoms equipment manufacturer and software developer Symetrics Industries Inc for $24.4m in cash, and in the absence of regulatory problems, the deal is due to be completed in January. Tel-Save was trumped trying to buy ACC Corp for $875m, by a $1bn offer from Teleport Communications Group Inc, and it failed to take over Shared Technologies Fairchild Inc when it was bought Intermedia Communications Inc.

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