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Issues note to London Stock Exchange to say it's in negotiations to buy ADC's billing unit
May 13, 2004
Interconnect and mediation software firm Intec Telecom Systems plc (London: ITL) has confirmed it is "in negotiations" regarding the possible acquisition of ADC Telecommunications Inc. (Nasdaq: ADCT)'s Singl.eView billing unit (see Intec In Talks With ADC and ADC Close to OSS Sale).
Intec issued a statement to the London Stock Exchange this morning following what it described as "press speculation," a reference to yesterday's Boardwatch article (see Is Intec in Line for ADC's Billing Biz?).
The firm's share price rose by 2.5 pence, more than 4 percent, this morning to 63 pence (111 cents).
Intec notes that the current negotiations will not necessarily result in a "binding agreement" to buy the Singl.eView business, and that a further statement would be made at a later date "if appropriate."
An Intec spokesman says the company "can't say another word about the matter" at present.
Intec's interest in acquisitions doesn't stop with ADC, though. The firm's CEO Kevin Adams noted yesterday that Intec had performed due diligence on two firms, and it's just possible that Intec is looking to cast its net wider than the billing arena.
It already holds a strong position in the mediation software sector, and has a service provisioning and activation product (Inter-activate), so the company might be looking to strengthen its position in the service fulfillment or resource management software market, where there has already been some M&A activity of late (see Telcordia Shells Out at Last).
Intec also announced its latest contract win today, a multi-million pound deal with an unspecified Asian carrier (see Intec Wins Big OSS Deal).
— Ray Le Maistre, International Editor, Boardwatch
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