An Alabama company is buying the assets of bankrupt Las Vegas telecommunications company CommPartners Holding Corp. for $2 million.
U.S. Bankruptcy Judge Linda Riegle in Las Vegas on Wednesday signed an order finding Momentum Telecom of Birmingham had submitted the best bid for CommPartners.
The company filed for bankruptcy last year, at the time listing liabilities of $6.3 million.
In a statement today, Momentum said it’s the leading provider of private label digital voice services and broadband management to cable operators, municipalities and managed services providers throughout the nation.
CommPartners will be absorbed into Momentum and be rebranded as details of the ownership change are worked out, Momentum said.
The Las Vegas office will remain open and Momentum plans to hire about 20 of the CommPartners employees, the majority of the local workforce.
The deal expands privately-held Momentum’s business by about 40 percent to more than 100,000 lines, Momentum said.
“Our management team identified an excellent opportunity to acquire the assets of another digital voice provider for financially favorable terms, giving us the ability to grow our customer base, leverage significant core technology assets to the advantage of current and future customers and continue building leadership in this space,” Momentum CEO Alan Creighton said in a statement. “We have invested heavily in the supporting applications and processes to scale our hosted IP (Internet protocol) telephony business, putting Momentum in a perfect position to acquire smaller companies that need capital infusions to continue servicing customers.”