BAAR, Switzerland, July 20, 2013 (BUSINESS WIRE/ME NewsWire) Angel Telecom Holding AG located in Baar, Switzerland and traded on the Third Market of the Vienna Stock Exchange under the symbol AGLT announced today that it acquired Next Communication, Inc.'s interest in Next Angel LLC, New York USA in a friendly transaction. Following this transaction, Angel Telecom will hold a majority of Next Angel, which will be renamed to Angel Americas LLC. [Marcatel will remain a partner in Angel Americas LLC.
Angel Americas LLC markets prepaid calling-cards, and other prepaid voice and mobile products and is a dominant player in the U.S. retail voice product market targeting ethnic communities in the United States. Angel Telecom's increased investment in Angel Americas LLC follows the company's strategy to strengthen its presence in the United States.
Angel Telecom has just completed its fiscal year 2012/13 with a significant increase in revenues and noticeable improvement in profitability. Details will be announced separately.