SANTA BARBARA 101 Telco Solutions announced a new minority stakeholder on Monday.
According to 101 Telco spokeswoman Shannon Keany, ICBS, an industry leader in core, fiber and data equipment repair services acquired the minority stake.
101 Telco provides wireless communications infrastructure repairs and spares, engineering, distribution, and technical services. The company is headquartered in Santa Barbara and has operational facilities in the Dallas, Texas area.
“The investment provides 101 Telco with capital to reinvest in the business and with a strategic mentor and partner to significantly expand repair service offerings to both companies’ customer base,” read a 101 Telco news release.
Under the terms of the agreement Telco’s operations lab will be relocated to a lab within ICBS’ 100,000 square foot facility in Allen, Texas.