Mergers and Acquistions News
Categories: IT Services & Consulting
July 23rd 2010, 17:04PM
TTI Team Telecom International Ltd shareholders have voted in favour of a merger with The Employee Owned Company (TEOCO).
TEOCO is a market leader in offering routing, cost and revenue management strategies for telecommunications companies around the world.
TTI Telecom develops and provides next generation operational support systems to communications companies.
Around 48.8 per cent of the outstanding ordinary shares of TTI Telecom, 100 per cent of the ?outstanding preferred shares of TTI Telecom, and over half, 55.8 per cent, of the outstanding ordinary and ?preferred shares of TTI Telecom, voted in favour of the proposed merger agreement.
Overall, the votes cast in favour of the deal at the shareholders' meeting made up 99.9 per cent of the aggregate shares.
The merger is expected to be completed by the end of August this year.
According to Trading Markets, TTI Telecom will become a private company on completion of the merger.
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