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Upco International (OTC:UCCPF) to purchase telecommunications company Spectrum Intelligence Communication Agency

Tony Zerucha



Upco International (OTC:UCCPF) (CSE:UPCO) has signed a binding letter of intent to purchase the assets of Spectrum Intelligence Communication Agency (SICA), a US-based VoIP and long-distance telecommunications provider. Under the terms of the proposed agreement, SICA shareholders will gain an equity position in Upco.

SICA CEO Juan Ramos will be appointed as the new CEO of Upco Systems, Upco International’s wholesale telecom division. Mr. Ramos has been an executive in the telecom voice sector for almost 20 years and is a graduate of Harvard Business School. His mandate is to build the company and its operational revenues towards a $200 million-plus target by 2021 through acquiring wholesale businesses like SICA.

“Part of our growth strategy is to identify companies with added value and specialization in niche markets that we can bring into our group,” Upco chairman Andrea Pagani said. “The agreement with SICA is a key element of this strategy. In addition to leveraging SICA’s extensive footprint in the industry (+90 Tier 1, 2 and 3 global telecom carriers), bringing on Mr. Ramos as CEO will provide the required level of continuity and expertise to help us realize our goals.”

Global long distance telecom market

The global long distance telecom market represents close to 500 billion minutes and US$20 billion per year in revenue and the industry is starting to consolidate, Upco said in a release. Numerous large carriers and PPTs are starting to outsource international long-distance services.

“This environment introduces significant opportunity for a new breed of companies, including Upco, which are smaller, more specialized, and have excellent systems and service offerings,” Upco added. “Key markets include Africa, the Middle East, Eastern Europe, and a number of Latin American and Caribbean countries of which have termination prices above US 20 cents per minute.

Upco’s November 2018 investor presentation

Upco’s updated November 2018 Investor Presentation is available here.

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Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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