Late in December ICTN announced their acquisition of Pangea Networks, Inc. Under the terms of this transaction, ICTN has offered each shareholder of Pangea the opportunity to exchange each share of Pangea for twenty shares of ICTN. The offer to the current shareholders of Pangea expires thirty (30) days from December 29, 2009.
Scott Steciw, Pangea President, stated, "This transaction is tremendously favorable for our investors and enhances our ability to further our business objectives. It has been accomplished and made possible due to the countless efforts of our entire team."
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About ICTN: Headquartered in Seattle, Washington, Innovative Communications Technologies, Inc., specializes in developing, marketing, and licensing communications, multimedia, and other businesses to emerging markets.
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