17 December 2008

Telecom Provider ACN Takes Control Of WorldGate

Multichannel News
ACN, a provider of telecommunications services, announced Friday that it reached an agreement to acquire a controlling interest in video-phone provider WorldGate Communications and to purchase more than $50 million worth of WorldGate’s video phones over a two-year period.

Last week an investment fund backed by ACN’s owners acquired 63% of the common voting equity in WorldGate, previously a developer of interactive TV solutions before switching its business to video phones.

ACN, based in Concord, N.C., offers wireline, wireless and voice-over-IP services in 19 countries in North America, Europe and the Asia-Pacific region.

The agreement between ACN and WorldGate “gives WorldGate a significant revenue stream to fund development of its technology and expand distribution to currently untapped telecommunications customers,” the companies said.

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