Telesphere has entered into an agreement to acquire the VoIP services business of Unity Business Networks, a fast growing provider of IP services with market presence in Denver, Portland, Ore. and Minneapolis/St. Paul, Minn. Financial terms of the agreement were not disclosed.

The transaction requires regulatory approvals and is expected to close in the third or fourth quarter of this year. Following the transaction, end-user customer services for both companies will be marketed under the Telesphere brand name.

Last month, Telesphere announced it had closed more than $15 million in additional funding to be used in accelerating the company’s rapid expansion plans through both organic- and acquisition-based growth. The round of funding featured several premier telecommunications investors including: Rally Capital, Hawkeye Investments and the Greenspun Corporation.