American Telephone + Data Inc.: The company...
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American Telephone + Data Inc.: The company said Friday that it, in conjunction with a Portland, Ore., firm, is acquiring SelecTel Corp. of Costa Mesa, a company that has been involved in installing telecommunications systems on military bases.
Terms were not disclosed.
American Telephone in Newport Beach, a holding company specializing in telecommunications, is making the acquisition with the Portland consulting firm Telephone Management Corp. as a partner.
SelecTel has about 10 employees. American Telephone Vice President William J. Hickey said the personnel and management will all be retained. In addition, “we are almost certainly going to be hiring more people,” he said.
American Telephone closed Friday at $2 a share, down 25 cents, in trading on the Nasdaq.
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