ATLANTA-World Access Inc. acquired Cellular Infrastructure Supply Inc., a Burr Ridge, Ill.-based provider of equipment and related design, installation and technical support services to cellular, personal communications services and other wireless service industries.
According to a merger agreement, CIS shareholders will receive $7.1 million, approximately half in cash and the other half in shares of World Access common stock. CIS shareholders have the right to receive additional consideration during the next three years, World Access said.
CIS will operate as a wholly owned subsidiary of World Access, headed by John Simon, Brian Schuchman and Thomas Canham, the three principals of the company.
World Access develops, manufactures and markets wireline and wireless switching, transmission and access products.