Integratechs Cancels Acquisition of QeNets

Two months after entering into an agreement to purchase QeNets, Integratechs announced today that it will disolve the purchase agreement and return the majority of the QeNets customers and assets to their former owner.

"We regret that we were forced to take this action at this time. We have enjoyed working with the QeNets customers very much, and hate to see any of them go. However, many things came out after the purchase agreement was signed which make it impossible for us to complete the purchase at this time.", Erich Pletsch, CEO, Integratechs.

Following the dissolution of the purchase agreement, most of the QeNets customer base will begin to receive service from the owner of QeNets, Terrence Crowe. A few select customers will remain with Integratechs.

All of the former employees of QeNets, other than Terrence, will either continue with Integratechs or have already moved on to other positions with other companies.

First Published: 2008-10-01
Last Modified: 2011-08-03

Synopsis: Two months after entering into an agreement to purchase QeNets, Integratechs announced today that it will disolve the purchase agreement and return the majority of the QeNets customers and assets to their former owner.