Vyke adds network capacity with Iios takeover

VoIP service provider, Vyke Communications, has confirmed its planned acquisition of Iios Ltd, a UK-based telecommunications carrier service provider.

The acquisition will give Vyke additional network capacity at a time when the company is growing rapidly, helping it to meet an increase in demand for its services.

Vyke will make an initial payment of £75,000, by issuing 84,206 shares at 89 pence a share, together with an earn-out providing a maximum further payment of £575,000 in its shares, based on Iios’s results for the year to December 2008.

Iios, which recorded gross revenues of £2.3m for the year to December 2007, provides a portfolio of VoIP services for the service provider community. It enhances sales and marketing, and acts as an aggregator for service providers’ traffic.

Vyke provides a mobile internet telephony service which allows users to make calls over the internet directly from a WiFi-enabled handset, providing significant cost savings.

Vyke claims that Mobile IP offers per minute calling rates that are lower than those offered by the typical mobile operator.