Raaid Thabata, CEO of NJB views the purchase of PTT's assets, including intellectual property rights, as part of a strategic move to strengthen NJB's presence in the prepaid telecommunications industry in the US. Change Group Americas (CGA), a Corporate Finance firm in New York City that had a key role in the previous acquisition of NJB by Mox Telecom, stewarded the purchase of PTT. Thabata commented on his resolve to acquire PTT as the "formalization of a relationship that will only help us gain significant momentum in the industry". Zeynep Ivet Bandirma, a member of CGA's Corporate Finance Team who worked alongside her colleagues in the Legal Team and Financial Accounting Team at CGA, suggests that this move "has strengthened NJB's position as a 'key player' in the pre-paid phone card industry, especially in the State of New Jersey". The acquisition process was planned and executed based on CGA's rigorous, in-house domain expertise and unique organization model. Ms. Bandirma further states that the "phone card industry is a unique breed, so it was of vital importance to our success to ensure that we knew as much about their business as they did".
NJB is the leader in New Jersey but stands to competitively move up the ranks in other states, as well.
For media inquiries please contact Change Group Americas at 1-(212)-962-4487.
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