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
  • 7 Ways the Wrong Phone System Can Haunt Your Business

    The wrong phone system could be haunting your business - and we’re talking about problems more serious than ghosts and ghouls. From increased costs to issues with scaling, we’ve identified seven important ways that a less than ideal phone system could be holding you back. You’ll be surprised at how much of a difference this can make to your bottom line too. more

  • Ditch Your Fax Servers

    An in-house fax server gives an IT department centralized management and monitoring over the entire enterprise's faxing. This can help your company track usage and better maintain records for auditing and record keeping. However, there are serious drawbacks that come with utilizing an in-house fax server solution and these range from security to cost-prohibitive pricing. more

  • The IT Manager's Survival Guide

    As an IT manager, maintaining physical fax servers and infrastructure is not a high priority. However, fax capability remains a business need simply because chances are your industry is dependent on its security. What if there was a way to reduce the amount of time spent handling fax complaints and maintaining physical servers? And this way took into account security, cost savings, and freed up your IT resources. Would you be interested? more

  • VoIP: Your New Secret Weapon for a Strong Year End

    As the end of 2017 nears, you may be feeling pressure to make sure you close the year out strong.If you’ve been sitting on the fence regarding VoIP, this may be the perfect time to switch. VoIP options had never been better or more full-featured than they are now, and it may be just the thing your business needs to see a productivity and profitability boost. more

  • Is Your Phone System Stealing Profits?

    Having the wrong phone system can dramatically cut into your profits. Despite this, many businesses just sign up for a plan or platform that seems ‘good enough’. If you haven’t carefully considered your options and the included features, there’s a very good chance that you are leaving money on the table in some way. more

Related Articles