Competitive provider Lightyear took another step in its ongoing public company transformation by officially renaming the former Libra Alliance Corp. Lightyear Network Solutions.
"The change in our corporate name and our new stock symbol more closely reflects our business of providing telecommunication services to businesses and consumers throughout the United States," Lightyear CEO J. Sherman Henderson said in a release.
In February, Lightyear became a public company through a reverse merger with Libra Alliance Corp., a former shell company and ISP. At that time, Lightyear was established as Libra's operating company with Lightyear's CEO J. Sherman Henderson serving as chairman and CEO.
According to a PHONE+ article, Lightyear's Sherman has set lofty goals for itself. With the CLEC market moving into a new consolidation phase, Lightyear plans to leverage its public status to attract new investors and funding to conduct its own purchases of other CLECs.
And while he did not lay out an exact timeline, Sherman wants to expand Lightyear's size as a $60 million company to $450 million competitive provider by possibly acquiring six to nine other competitive providers.
- see the release here
- xchange via PHONE+ has this article
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