& cplSiteName &

AudioCodes to Buy CTI2

Light Reading
News Wire Feed
Light Reading

LOD, Israel -- AudioCodes (Nasdaq: AUDC - News), a leading provider of Voice over Packet (VoP) technologies and Voice network products, today announced its intent to exercise its option to purchase the remaining outstanding shares of CTI Squared Ltd. ("CTI2"), a leading provider of enhanced messaging and communications platforms deployed globally by service providers and enterprises. CTI2's platforms integrate data and voice messaging services over internet, intranet, PSTN, cellular, cable and enterprise networks. It employs approximately 30 people and they are based in Israel. The impact of the acquisition on AudioCodes' financial results in 2007 is not expected to be material.

In February of 2006, AudioCodes acquired 10% of the outstanding shares of CTI2 for a purchase price of $1 million, which was paid in cash. AudioCodes intends to exercise the option it also obtained to acquire the remaining shares of CTI2 for a total purchase price of $10 million, $5 million in cash payable by February 28, 2007 and $5 million in cash payable by February 28, 2008. The second installment payment may be reduced by certain claims against CTI2 arising prior to the second payment.

In November of 2006, AudioCodes and CTI2 announced that FASTWEB, Italy's second largest fixed telephony operator and the first player worldwide to develop an all IP network for Triple Play service delivery (voice, data, and video), is expanding its use of CTI2's InTouch(TM) platform, integrated with AudioCodes IPmedia(TM) Media Server, for advanced voicemail and unified messaging services.

"We are very pleased to announce the acquisition of CTI Squared," said Shabtai Adlersberg, Chairman, President and CEO of AudioCodes. "This acquisition further strengthens our strategic initiative to become a key supplier of Converged IP Communication products and solutions to Service Providers worldwide. The CTI2 advanced messaging and communication platforms, together with our IPmedia(TM) IMS-compliant MRFP's (Media Resource Function Processor, also known as Media Servers), enhances our ability to offer revenue generating bundled applications for Wireline, Wireless, Cable, IMS and Fixed- Mobile-Convergence markets."

"We believe that CTI2 has built a strong team that has delivered field- proven enhanced messaging and communications platforms that fit well with AudioCodes' vision of enabling IMS networks," said Erez Marom, CEO of CTI2. "This acquisition offers an even better future for our employees, customers and partners as we combine CTI2's products with AudioCodes financial strength, product portfolio and proven capability to deliver to NEPs and service providers."

AudioCodes Ltd. (Nasdaq: AUDC)

(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Featured Video
Flash Poll
Upcoming Live Events
October 23, 2018, Georgia World Congress Centre, Atlanta, GA
November 6, 2018, London, United Kingdom
November 7-8, 2018, London, United Kingdom
November 8, 2018, The Montcalm by Marble Arch, London
November 15, 2018, The Westin Times Square, New York
December 4-6, 2018, Lisbon, Portugal
March 12-14, 2019, Denver, Colorado
April 2, 2019, New York, New York
May 6-8, 2019, Denver, Colorado
All Upcoming Live Events
Partner Perspectives - content from our sponsors
One Size Doesn't Fit All – Another Look at Automation for 5G
By Stawan Kadepurkar, Business Head & EVP, Hi-Tech, L&T Technology Services
Prepare Now for the 5G Monetization Opportunity
By Yathish Nagavalli, Chief Enterprise Architect, Huawei Software
Huawei Mobile Money: Improving Lives and Accelerating Economic Growth
By Ian Martin Ravenscroft, Vice President of BSS Solutions, Huawei
Dealer Agent Cloud – Empower Your Dealer & Agent to Excel
By Natalie Dorothy Scopelitis, Director of Digital Transformation, Huawei Software
All Partner Perspectives