Mergers and Acquistions News
Categories: Telecoms
January 14th 2010, 16:54PM
cVidya Networks, a provider of telecoms revenue assurance and dealer management products, has announced the acquisition of integrated revenue management firm ECTel in an all-cash merger valued at $21 million (£12.9 million).
The combined company will continue to operate under the cVidya name and it is hoped that the acquisition of ECTel will help to position it as the leading global vendor in the revenue intelligence category.
Alon Aginsky, president, chief executive officer and founder of cVidya, said that the acquisition marks a "defining moment" for the company, positioning it as the largest provider of integrated revenue intelligence in the telecoms and media sector.
"With this acquisition, cVidya now serves 132 telecom and media customers and employs 300 professionals in 18 global locations," he added.
In November last year, cVidya was recognised with the Deloitte Technology Rising Star award for 2009, which recognises companies that show massive revenue growth.
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