Xfone (XFN) announced that it has signed a definitive agreement to acquire NTS Communications, Inc., for an acquisition price of $42 million. The company noted it expects the purchase to dramatically enhance its revenues, cash flows, and profitability while concurrently positioning the company to take advantage of significant opportunities to drive future growth and profits through innovative service offerings and operating synergies.The company stated that it also expects to significantly expand its service area and creates a diversified communications services company with combined annualized revenues and EBITDA exceeding $114 million and $13 million, respectively based upon the first six months of 2007 unaudited results.Guy Nissenson, President and CEO of XFONE said, "This acquisition makes enormous sense both economically and operationally. NTS contributes a high-quality facilities-based telecommunications network; a solid base of loyal customers; an effective sales and service operation and a 25 year history in Texas. The addition of NTS is expected to substantially increase our presence in the United States and provides multiple opportunities to leverage the operational strengths of both companies. We expect to drive EBITDA improvement as we integrate the operations."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.