WARWICK – Computer Telephone Inc., provider of communications and computer technology services, is absorbing South County-based Shoreline Communications and is eyeing another merger before year-end.
Shoreline and its 3-person staff will move into CTI’s facility and operate under CTI’s name. The two have nearly identical businesses, said CTI Founder and Vice President Thomas F. Towhill to Providence Business News. The financial details of the transaction were not disclosed.
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“We see opportunity for growth in the small to mid-size business markets,” Towhill added, noting that they expect a 25 percent to 30 percent revenue boost from the merger.
CTI supports 1,600 small to mid-sized businesses in Rhode Island and nearby Massachusetts, and Shoreline supports 400.
“I am especially pleased to be building business instead of downsizing and am very excited about this prospect,” said Dan Gagnon, owner of Shoreline who will now be the vice president of operations at CTI.
Computer Telephone Inc. said it has 14 employees and will add four people by the end of the year, including: installers, phone service technicians and IT staff.
CTI is also in merger talks with another business, which Towhill declined to name, but he said it could give an up to 50 percent increase on its current $2 million annual revenue. The merger could take place as early as year-end.
