VoiceComm Announces Acquisition of Assets of Tessco's Retail Division
VoiceComm has signed an agreement to acquire certain assets of TESSCO Technologies' Retail Division, including the Ventev Mobile Device Accessories Brand. This acquisition aims to enhance VoiceComm's standing in the wireless industry, particularly during the anticipated 5G upgrade super cycle. Closing is expected in Q4 2020. CEO Derek Weiss highlighted the synergies and best practices integration from both companies, while former TESSCO executive Liz Robinson joins VoiceComm as COO to oversee product, sales, and marketing operations.
- Acquisition positions VoiceComm as a leading mobile accessory distribution partner.
- Expected synergies will enhance service offerings and operational efficiencies.
- Inclusion of experienced TESSCO executives to strengthen management.
- None.
PENNSAUKEN, N.J., Oct. 29, 2020 /PRNewswire/ -- VoiceComm, the premier mobile accessory distributor for the North American market, today announced the signing of a definitive agreement to acquire certain assets of TESSCO Technologies, Inc. (NASDAQ: TESS) Retail Division, including the Ventev Mobile Device Accessories Brand.
Integrating the assets that Tessco has built over the last thirty years positions VoiceComm as the leading mobile accessory distribution partner in the ever-evolving wireless industry. The acquisition, scheduled to close in Q4 2020, will enhance VoiceComm's ability to serve customers and vendors through the expected 5G upgrade super cycle.
"VoiceComm's acquisition of Tessco's Retail Division will consolidate two leading companies' best practices to create more value for our customers and vendors," said Derek Weiss, CEO, VoiceComm. "We've identified significant synergies which will allow us to deliver upon our principles of Innovation, Partnerships and Service in an even more powerful way, including integration of the high-quality Ventev brand into our product offering."
VoiceComm will take on many seasoned Tessco executives including 22-year Tessco and industry veteran Liz Robinson, who will join VoiceComm as Chief Operating Officer overseeing the product, sales and marketing divisions.
"I'm thrilled to join VoiceComm and bring members of my team with me-- a strategic effort to create the best collection of industry professionals working together to service our customers and vendors at the highest level," stated Robinson. "It's truly exciting that as the market faces significant consolidation and disruption, VoiceComm continues to innovate and evolve. By combining VoiceComm's nimble platform and superior service capabilities with Tessco's experience in large scale processes and product marketing, we're creating a bold vision as we head into 2021 after a very challenging year."
For more information about VoiceComm, please visit www.myvoicecomm.com
About VoiceComm:
VoiceComm's diverse, high-profile product portfolio coupled with our commitment to serve has allowed us to quickly become the go-to destination for wireless accessories. With a focus on what's important for indirect dealers, and wireless retail, we inspire through customization to develop the programs and resources businesses need to succeed.
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SOURCE VoiceComm
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