CSG to Buy Intec

British billing systems specialist set to be acquired by CSG in a deal valued at £236.7M ($370M)

September 24, 2010

1 Min Read

ENGLEWOOD, Colo. -- The boards of directors of CSG and Intec are pleased to announce that they have reached agreement on the terms of a recommended cash offer, to be made by a wholly-owned subsidiary undertaking of CSG, for the entire issued and to be issued share capital of Intec.

Under the terms of the Acquisition, Scheme Shareholders will receive 72.0 pence in cash for each Intec Share. It is intended that the Acquisition will be implemented by way of a court-sanctioned Scheme of Arrangement under Part 26 of the 2006 Act.

The Acquisition values Intec’s entire issued and to be issued share capital at approximately £236.7 million.

Commenting on the Acquisition, Peter E. Kalan, Chief Executive Officer of CSG, said: “The communications industry is dramatically changing. Consumers have more choices for content, devices and providers. This has created an opportunity for service providers to differentiate their offerings by being more flexible and responsive to the end consumers. We believe that both Intec’s broad suite of solutions aimed at fixed mobile and next generation networks and CSG’s extensive customer interaction management suite will be attractive to one another’s customer base as well as service providers worldwide."

CSG Systems International Inc. (Nasdaq: CSGS)

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