Comverse to Acquire VoIP Application Leader Netcentrex S.A.; Combination Expected to Bring Innovative VoIP- & IMS-Based Communi
10 Aprile 2006 - 1:00PM
Business Wire
Comverse Technology, Inc. (NASDAQ: CMVT) today announced that
Comverse Inc. has signed a definitive agreement to acquire
privately-held Netcentrex S.A., for approximately $164 million in
cash, subject to certain adjustments and a contingent earnout of up
to an additional $16 million. The actual amount of the contingent
earnout payment, if any, will be determined based upon achievement
of certain financial targets by the Netcentrex business during the
remainder of fiscal 2006 and for fiscal 2007. The combination of
Netcentrex, a leader in network-based software enabling IP-based
voice-video-data ("triple-play") and FMC (fixed-mobile convergence)
solutions for service providers, serving the enterprise and
consumer segments, with Comverse's portfolio of value-added
multimedia messaging, content and converged billing solutions, is
expected to benefit operators deploying differentiating, multimedia
services in the VoIP (Voice-over-Internet Protocol) and IMS (IP
Multimedia Subsystem) domains. The acquisition, which is expected
to close by July 1, 2006, is projected to be neutral to the
company's fiscal 2006 (year ending January 31, 2007) pro forma net
income. Pro forma net income excludes the impact of purchase
accounting adjustments related to the write-down of deferred
revenue, amortization of intangibles, and other acquisition-related
costs, among other items. Kobi Alexander, Chairman and CEO of
Comverse Technology, said, "We believe VoIP, FMC and IMS-based
communication services are poised to grow in the coming years, and
that Netcentrex is well-positioned to address many of these
opportunities. Together, the two companies offer a broad portfolio
that enables converged voice-video-data solutions, serving
wireless, fixed, cable, MVNO and Internet-based communication
service providers." Zeev Bregman, CEO of Comverse, the company's
network systems unit, said, "Netcentrex complements our product
portfolio, technology, and strategic direction. Netcentrex's
leading telco-grade application server, rich IP Centrex, Class 5
and video services and proven market position (with over 2.8M live
VoIP lines), together with Comverse's telecom VAS and billing
leadership, create a synergetic, unique VoIP, FMC and IMS
offering." "We are delighted to join forces with Comverse," said
Olivier Hersent, Chairman and CTO of Netcentrex. "Our combined
expertise will benefit both existing and new clients, and will
allow all types of operators to build innovative service bundles
based on IP applications." Netcentrex brings to Comverse a broad
suite of software-based converged voice-video-data-over-IP
solutions, supporting the consumer and enterprise offerings of
approximately 50 service providers, including AOL Germany,
Comunitel (Tele2), Fastweb, France Telecom, Telefonica Deutschland
GmbH and Tiscali. For the year ended December 31, 2005, Paris-based
Netcentrex generated revenues of approximately $50 million. The
acquisition is subject to a number of closing conditions, including
approvals or expiration of waiting periods with respect to filings
required by competition laws or regulations, receipt of certain
third party consents, the tender of substantially all of Netcentrex
shares by their holders at closing and other customary conditions.
About Comverse Comverse, a unit of Comverse Technology, Inc.
(NASDAQ: CMVT), is the world's leading provider of software and
systems enabling network-based multimedia enhanced communication
and billing services. The company's Total Communication(SM)
portfolio includes value-added messaging, personalized data and
content-based services, and real-time converged billing solutions.
Over 450 communication and content service providers in more than
120 countries use Comverse products to generate revenues,
strengthen customer loyalty and improve operational efficiency. For
additional information, visit the Comverse website at
www.comverse.com or the Comverse Technology website at
www.cmvt.com. About Netcentrex Netcentrex develops unique next
generation network (NGN) voice and video solutions that enable
telecom operators and service providers to deliver voice-video-data
and fixed-mobile converged services for both the consumer and
enterprise markets. Solutions include IP telephony, video
telephony, Triple Play, IP Centrex, voice/video VPN, contact center
and IVR services. All solutions are built on the same IMS compliant
infrastructure that includes an application softswitch, media
services, provisioning and management. Founded in 1998, Netcentrex
has over 2.8 million VoIP lines in commercial service and has been
recognized as the worldwide leader for Class 5 application servers.
The company has sales in over 25 countries and over 50 operator and
service provider customers. Leading European and US venture capital
firms back the privately held company. For more information, please
see www.netcentrex.net. All product and company names mentioned
herein may be registered trademarks or trademarks of Comverse or
the respective referenced company(s). Note: This release may
contain "forward-looking statements" under the Private Securities
Litigation Reform Act of 1995 that involve risks and uncertainties.
There can be no assurances that forward-looking statements will be
achieved, and actual results could differ materially from forecasts
and estimates. Important factors that could cause actual results to
differ materially include: the results of the special committee,
appointed by the Board of Directors on March 14, 2006, to review
matters relating to the Company's stock option grants, including,
but not limited to, the accuracy of the stated dates of option
grants and whether all proper corporate procedures were followed;
any restatement of financial statements of the Company or other
actions that may be taken or required as a result of such reviews;
risks associated with integrating the business and employees of the
GSS division of CSG Systems, International; changes in the demand
for the Company's products; changes in capital spending among the
Company's current and prospective customers; the risks associated
with the sale of large, complex, high capacity systems and with new
product introductions as well as the uncertainty of customer
acceptance of these new or enhanced products from either the
Company or its competition; risks associated with rapidly changing
technology and the ability of the Company to introduce new products
on a timely and cost-effective basis; aggressive competition may
force the Company to reduce prices; a failure to compensate any
decrease in the sale of the Company's traditional products with a
corresponding increase in sales of new products; risks associated
with changes in the competitive or regulatory environment in which
the Company operates; risks associated with prosecuting or
defending allegations or claims of infringement of intellectual
property rights; risks associated with significant foreign
operations and international sales and investment activities,
including fluctuations in foreign currency exchange rates, interest
rates, and valuations of public and private equity; the volatility
of macroeconomic and industry conditions and the international
marketplace; risks associated with the Company's ability to retain
existing personnel and recruit and retain qualified personnel; and
other risks described in filings with the Securities and Exchange
Commission. These risks and uncertainties, as well as others, are
discussed in greater detail in the filings of the Company with the
Securities and Exchange Commission, including its most recent
Annual Report on Form 10-K and subsequent Quarterly Reports on Form
10-Q and Current Reports on Form 8-K. These documents are available
through the Company, or its website, www.cmvt.com, or through the
SEC's Electronic Data Gathering Analysis and Retrieval system
(EDGAR) at www.sec.gov. The Company makes no commitment to revise
or update any forward-looking statements in order to reflect events
or circumstances after the date any such statement is made.
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