Sanswire, a high-speed, wireless Internet service provider, pulled out of a possible merger with InDigiNet on Tuesday.
According to Sanswire, the companies could not come to agreement on final terms.
Michael Molen, chief executive officer of Sanswire, said in a statement: “It is unfortunate that we could not work something out. It came to a point that we had to make a decision on what direction we were going and we decided that we could not afford to take on the additional debt that InDigiNet had.”
InDigiNet is based in Irvine, CA. It named a new chief executive officer on March 9. The company provides managed communication services to small and medium size businesses.
Sanswire: www.sanswire.com
