Japan’s KDDI bought a controlling stake (51%) in the little known, Englewood Cliffs, NJ-based prepaid carrier Locus Telecommunications.
The two companies plan to work together to introduce new products and services. Locus’ CEO Jason Chon said that he likes the idea of taking advantage of KDDI’s global telecommunication network and expertise in wireless business to expand the business.
No changes in Locus’ management team or operations are anticipated in the short term, in an effort to ensure the stability of current operations and existing business relationships…
The Japanese company said the deal will give it access to Locus’ distribution networks while garnering more traffic for KDDI’s wholesale business.
[Via: CellularNews]