Van Nuys’ Com Systems to Buy Futurtek Assets
Com Systems, a Van Nuys provider of long-distance telephone service for businesses, said it agreed to acquire most of the assets of Futurtek Communications, a long-distance carrier with headquarters in San Mateo.
The transaction, which calls for Com Systems to exchange 950,000 of its common shares and assume certain Futurtek liabilities, totals about $6 million. The sale is subject to approval by regulators and Futurtek’s shareholders.
The assets being acquired are held by Futurtek’s American Communications Enterprises unit, which serves about 7,000 business customers in California and Nevada.
Com Systems, which has recently purchased several small long-distance companies in order to build its market share against such giant rivals as AT&T; and MCI, has about 20,000 customers in California, Nevada, Arizona and Utah.