RAMTelecom takeover aborted

RAMTelecom Inc. is no longer the object of a friendly takeover by the Canadian arm of SkyPort Global Communications Inc. Calling it a “timing issue,” the Ottawa satellite services company says that it reached a mutual agreement with Texas-based SkyPort to terminate the discussions first announced in February. In January, RAMTelecom and Skyport RAMTelecom.jpgannounced an alliance to improve communications services coverage in North America. “We recognize the common synergies between the two companies and strengthening the existing business-to-business relationship will help us expand our satellite-based business communications services,” says RAMTelecom CEO Ralph Misener, who insists that events should in no way reflect poorly on his company. The news comes only a few weeks after SkyPort CEO Patrick K. Brant took the reigns from Roger Klotz, who retired at the end of April. Asked if the change at the top had any bearing on negotiations, Misener would only say it was “a possibility.” “Our relationship with RAMTelecom is strong, and we wish to continue to grow it through our Partner Program,” says Brant, who was CEO of Loral Skynet when the $US3.2-billion buyout of Telesat Canada by Loral Space & Communications was in progress. He subsequently left Loral in December, apparently unwilling to relocate with the company to Ottawa. “It was unfortunate that we could not reach a positive definitive agreement after five months of negotiations,” says Misener, who added that SkyPort had been invited to reconsider the acquisition in the future.

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