In its transition to an IP services company, ELEC Communications ...
In its transition to an IP services company, ELEC Communications will spin off its 2 CLECs, Rochelle Telephone and Telecarrier Services, to an unnamed company, it said Mon. A spokesman said the buyer, whose identity isn’t being disclosed, will…
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assume the CLECs’ negative working capital balances and retire $1.3 million in debt the company owes Laurus Master Fund. ELEC also is changing its name to Persavip to reflect its new focus, CEO Paul Riss said: “In the IP world, we are a carrier’s carrier, and we have been attracting significant new wholesale customers, such as Allegiance Communications, that we announced last week. Our new name reflects our total focus on IP, which is unquestionably emerging as the universal network platform for voice, data and video services.”