Mergers and Acquistions News
Categories: Telecoms
October 23rd 2009, 17:29PM
ECtel, a company which provides revenue management systems for telecommunications firms, has agreed to an acquisition offer made by cVidya Networks.
The all-cash merger will create one of the world's largest revenue assurance and fraud management companies in a transaction valued at approximately $21 million (£12.9 million).
Under the terms of the agreement, which is anticipated to close before the end of the year, shareholders of ECtel will receive approximately $1.26 (£0.77) per share in cash.
Yair Cohen, chairman of ECtel's board of directors, said the deal represents the best interests of the shareholders and recommended that they approve the merger.
"After careful and thorough analysis, and with the completion of extensive negotiations with the buyers, the board of directors has decided to endorse this transaction," he commented.
cVidya Networks is a global leader in the revenue assurance and dealer management sphere for telecoms service providers, whose products include the MoneyMap solution suite.
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