Currently Oronoco Telecom has projected $3m annual revenue
AppTech, a provider of multi-platform mobile apps designed for Apple iPhone, Google Android, has signed a letter of intent to acquire Oronoco Telecom on or about 1 February 2011.
Oronoco is owned and directed by telecom veteran Daniel Miroli and currently has projected annual revenues of $3m.
Oronoco Telecom has a customer base that includes clients such as Tata Communications of India and KDDI of Japan.
For 2011, Oronoco plans a significant expansion of its customer base in the country of Colombia.
In addition to its telecommunications activities, Oronoco is working on the development of Smartphone apps that will be marketed primarily through the Android operating platform, said AppTech.
AppTech CEO Eric Ottens said once they complete due diligence and close on this transaction, Daniel will bring a lot of marketing savvy and experience to their team and will significantly contribute in the acceleration of efforts with other ongoing projects.