NGTV changes hands

13 Jul 2005

US-based Interlink Global Corp has agreed to acquire long-distance telephony and internet service provider New Global Telecom Venezuela (NGTV) for USD6 million in cash and stock. NGTV provides services to more than 500 corporate clients and is projected to generate revenues in excess of USD7 million in 2005, with EBITDA of more than USD1 million. Interlink says that ‘most’ of NGTV’s 43 employees will stay with the company once the deal is completed in the latter part of the year, subject to the approval of regulator Conatel.