Intec Buys ADC Billing Unit

Intec Telecom Systems plc (London: ITL) completed its sideways step into the retail billing business today by announcing the acquisition for $74.5 million in cash of ADC Telecommunications Inc.'s (Nasdaq: ADCT) Singl.eView business (see ADC Sells Billing Biz to Intec).

The deal, exposed exclusively by Boardwatch some weeks ago (see Intec Confirms M&A Talks With ADC and Is Intec in Line for ADC's Billing Biz?), is the culmination of an auction process that began when ADC decided to focus on its infrastructure business and sell its software assets (see ADC Close to OSS Sale, ADC Tries Flogging its OSS, and ADC Loses Another OSS Boss). The estimated price for the Singl.eView business had been between $80 million and $100 million.

The transaction, which needs to be approved by Intec's shareholders at a meeting likely to be held in early August, takes the interconnect billing and mediation software vendor into the retail billing and customer care market for the first time. It will also boost its staff numbers, adding 650 employees at offices in 27 locations to Intec's headcount of 677, and adding significant revenues. Intec recorded first-half revenues of $55.6 million, while Singl.eView sales were about $35 million (see Intec Announces H1 Results).

For more details, head over to Boardwatch.

— Ray Le Maistre, International Editor, Boardwatch

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