Voiceserve has completed the acquisition of VoipSwitch. VoipSwitch has an established customer base with hundreds of re-sellers and generated a net profit of approximately $374,000 for the fiscal year ended March 2007.

The acquisition consisted of $1.2 million cash with 3,750,000 VSRV shares valued at $1.8 million for a total of $3 million. Voiceserve paid $600,000 cash and will continue to pay the remaining balance on a monthly basis over the next year.

Voiceserve President and Chairman Alexander Ellinson, said, “This purchase is a tremendous milestone for Voiceserve. The acquisition is expected to contribute approximately $1 million in annualized revenues. These figures should be reflected in our 2009 fiscal year, which begins in April 2008. By joining forces, Voiceserve and VoipSwitch’s vast range of telecom features enables registered users unlimited access and control globally via the Internet. The variety of features can be adapted accordingly, giving Voiceserve an advantage with regard to competitors. We are excited to integrate our first acquisition and expect tremendous growth opportunities for our company in the year ahead.”