Waukesha-based Telkonet Inc. has agreed to sell the assets and operations of its EthoStream LLC division to a New York telecommunications company.
EthoStream is one of Telkonet’s two product lines. It is one of the world’s largest hospitality high-speed Internet access networks, providing more than 100 million people with public Internet access per year. Telkonet’s other product line is its EcoSmart intelligent automation platform for energy usage tracking and analysis.
Syosset, New York-based DCI Design Communications, which offers data, voice and unified communications, will integrate EthoStream to become the top hospitality data and voice services provider in North America, serving more than 2,500 properties comprising more than 500,000 hotel rooms.
All of EthoStream’s key employees will be retained in the acquisition. Matt Koch, chief operating officer of Telkonet, has now been named general manager of the EthoStream business unit of DCI.
“DCI is a great fit for our data operations,” Koch said. “We are united by a common culture based on a passion for innovation and customer service. We look forward to adding value to our customers by bringing DCI’s expertise in voice and unified communications.”
“The EthoStream team is passionate about the same thing we are – creating high-quality solutions supported by a world-class service organization,” said Charbel Zreik, chief executive officer of DCI. “DCI continually works hard to better serve each of our customers. By combining these two great organizations, we broaden our operational and technical capabilities and can further improve our ability to deploy and support cutting-edge networks for our customers. In addition, we can now offer a broad spectrum of solutions for all property types. The leading hospitality flags, ownerships groups and management companies are looking for reliable partners that can service a multitude of needs, and now our combined company is perfectly situated to do that.”
Telkonet will announce its 2016 financial results tomorrow.
