Network Equipment Technologies, Inc., has announced it has signed a definitive agreement to acquire privately held Quintum (News
) Technologies, an enterprise VoIP
access switching and gateway solutions provider.
Under the terms of the agreement, NET (News
) will acquire all of the outstanding shares of Quintum for a total equity value of $41 million, comprised of $20.5 million in cash and $20.5 million in NET stock. NET will also assume approximately $2 million in debt currently on Quintum’s balance sheet, which it intends to pay off in full upon the transaction closing.
NET President and CEO C. Nicholas Keating, Jr. remarked, “The acquisition of Quintum reflects NET’s strategy to broaden our VoIP product solutions. This will add further scale to our growing VoIP business and put us in a better position to address enterprise and government customer requirements. NET and Quintum share a common vision for the converged unified messaging
and unified communications markets. Our technologies, product strategy and sales focus are highly complementary.”
Most recently, Quintum had announced
that it was expanding its relationship with Microsoft (News
), announcing its Tenor Hybrid gateway specifically in support of Redmond’s unified communications technologies that will have all the Tenor functionality and an integrated Mediation Server.