TTI Telecom Acquired By TEOCO

Updated: January 05, 2011

ROSH HA'AYIN, Israel, Aug 23, 2010 (GlobeNewswire via COMTEX) -- TTI Team Telecom International Ltd. , a global supplier of Operations Support Systems (OSS) to communications service providers, announced today that it has completed its previously announced sale pursuant to the Agreement and Plan of Merger, dated as of June 8, 2010, by and among TEOCO Corporation, a Delaware corporation ("TEOCO"), TEOCO Israel Ltd., an Israeli company and a wholly owned subsidiary of TEOCO ("Merger Sub"), and TTI Telecom, under which TTI Telecom has been acquired by TEOCO through a merger of Merger Sub with and into TTI Telecom.

Pursuant to the terms of the merger agreement, which was approved by TTI Telecom's shareholders on July 22, 2010, TTI Telecom has become a private company and each outstanding ordinary share and preferred share of TTI Telecom has been automatically converted into the right to receive US$3.00 in cash, without interest and less any applicable withholding taxes.

In connection with the closing, trading of TTI Telecom shares on the NASDAQ will cease today and TTI Telecom will de-list its shares from the NASDAQ.

Shareholders who possess TTI Telecom share certificates will receive a letter of transmittal with detailed instructions, along with other forms, from the appointed paying agent, BNY Mellon Shareowner Services, regarding the surrender of their certificates for the merger consideration. For shares held in street name by a broker, bank or other nominee, the broker, bank or other nominee will handle the exchange of shares for the shareholders and will provide them with any relevant instructions for effecting the exchange.

About TTI Telecom

TTI Team Telecom International Ltd. is a leading provider of next generation Operations Support Systems (OSS) to communications service providers worldwide. TTI Telecom's Netrac portfolio delivers an automated, proactive and customer-centric approach to service assurance and network management. Anchored by market-leading service assurance solutions -- Fault Management (FaM) and Performance Management (PMM) -- that give customers an end-to-end view of their network, TTI's Netrac enables service providers to reduce operating costs, enhance profitability and launch new, revenue-generating services more rapidly. Netrac is compatible with multiple technologies and industry standards, and is uniquely positioned to bridge legacy, next-generation, convergent, and IMS Networks. TTI Telecom's customer base consists of tier-one and tier-two service providers globally, including large incumbents in the Americas, Europe and Asia-Pacific.

SOURCE: TTI Team Telecom International Ltd.

Featured Research
  • 8 Ways Business Travelers Can Save with VoIP

    Do you or any part of your workforce travel for work, or even telecommute? If that answer is yes, then you should be utilizing mobile VoIP. With VoIP, businesses have been found to save as much as 40% on local calls and a whopping 90% on international calling expenses. more

  • Phone System Showdown

    When it comes time to select your new phone system, one of the biggest questions that you will face is whether to go with the hot, new VoIP system or the steady and secure PBX network. There are pros and cons to each of these phone systems, and before making any purchase we highly suggest that you take the time to download and read our latest guide: Phone System Showdown: VoIP vs. PBX. more

  • Signals Your Company is Ready For Unified Communications

    Efficient and effective business collaboration is essential to company success and as you grow your business, you'll discover all the different communication methods that you NEED to stay connected with partners and customers. Implementing a Unified Communications (UC) system can save your company upwards of $920,000 a year due to increased efficiency amongst company employees. more

  • Phone System Implementation Expectations

    Providers would have you believe that implementing a new phone system is as easy as counting to three. However, while the process may not be difficult, there are steps that need to be taken to ensure that your new VoIP system is installed and implemented smoothly. Luckily, the challenges associated with upgrading your system tend to be fairly predictable. Most businesses run into the same set of problems that many others have faced before them, meaning avoiding or overcoming them is as easy as preparing ahead of time. more

  • Your Phone System and Your Bottom Line

    Businesses have been using phones to drive increases to their bottom lines for almost a century now. Telephony, much like the rest of the business world, has seen drastic changes with the increase in technological advancement. Voice Over Internet Protocol (VoIP), has enabled companies to connect with consumers at levels that have been seen as unheard of before. And trust us when we say this, it is doing wonders for the bottom line. more

Related Articles