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TTI Telecom: TTI Telecom Announces Agreement to Acquire Telesens LLC
(M2 PressWIRE Via Thomson Dialog NewsEdge)
RDATE:10122007
Petach Tikva, Israel -- TTITeam Telecom International Ltd. (NASDAQ:
TTIL) ("TTITelecom"), a global supplier of Operations Support Systems
(OSS) to communications service providers, announced today that it has
signed a definitive agreement to acquire Telesens LLC, a software house
headquartered in the Ukraine with a strong presence in the CIS
(Commonwealth of Independent States) market.
Telesens, with an annual turnover of over $2 million and approximately
100 employees, has been developing, implementing and promoting software
solutions and related professional services for the telecommunications
market since 1998. Amongst Telesens' customers are Kievstar,
KazakhstanTelecom, UKR Telecom and MTS Ukraine.
The acquisition of Telesens is part of TTI Telecom's strategy to expand
its sales platform within strategic territories, as well as to lower
software development costs through offshore development and be better
equipped to develop new products for growing markets.
"This acquisition is an excellent growth opportunity for TTITelecom,"
said Meir Lipshes, CEO and Chairman of the Board. "Bringing Telesens
onboard achieves two important goals for TTITelecom, enlarging and
enhancing our footprint in the CIS market and enabling us to provide
more cost-effective and efficient software solutions to our customers
worldwide through off-shore development. I believe that within the
first year of the acquisition, we will see a positive contribution to
our financial results."
Under the terms of the agreement, the aggregate purchase price is $ 2.7
million, subject to downward adjustments related to amongst other,
actual 2007 annual turnover and certain performance parameters, and
will be paid in cash over a three-year period. The acquisition is
subject to customary closing conditions and is expected to close in
mid-January 2008.
About TTI Telecom
TTI Team Telecom International Ltd. ("TTI Telecom") is a leading
provider of next generation Operations Support Systems (OSS) to
communications service providers worldwide. The Company's
Netrac-branded 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 gives
customers an end-to-end view of their network, TTI Telecom'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, Europeand Asia-Pacific.
Caution Concerning Forward-Looking Statements This document includes
certain forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
regarding the expected timing of the closing of the acquisition by TTI
Telecom of Telesens, TTI Telecom's and Telesens' ability to close the
acquisition, the expected benefits of the acquisition, the expected
performance and features of Telesens' and any TTI Telecom and Telesens
combined products, the impact of the acquisition on future innovation
of TTI Telecom's and Telesens' products and TTI Telecom's expectation
with respect to support and investment in existing Telesens products.
These statements are based on the current expectations or beliefs of
management of TTI Telecom and are subject to uncertainty and changes in
circumstances. Actual results may vary materially from those expressed
or implied by the statements herein due to (1) changes in economic,
business, competitive, technological and/or regulatory factors, (2)
failure to receive regulatory approval for the acquisition, (3)
difficulties encountered in integrating Telesens business following the
closing, (4) failure to compete successfully in this highly competitive
and rapidly changing marketplace, (5) failure to retain key employees,
(6) other factors affecting the operation of the respective businesses
of TTI Telecom and Telesens and (7) other risk factors which are
detailed in TTI Telecom's filings with the Securities and Exchange
Commission. TTI Telecom is under no obligation to, and expressly
disclaims any such obligation to, update or alter their respective
forward-looking statements, whether as a result of new information,
future events, or otherwise.
CONTACT: Mike Horowitz, VP, Technology Group, NCSM Strategic Marketing
Tel: +1 972 2 563 7527
e-mail: mike@ncsm.co.il
Lee Roth, KCSA Worldwide
e-mail: Lroth@kcsa.com
Marybeth Csaby, KCSA Worldwide
Tel: +1 212 896 1209
Tel: +1 212 896 1236
e-mail: Mcsaby@kcsa.com
Yochi Eisner, Director, Proposals and Marcom, TTITelecom
Tel: +972 3 926 9700
Fax: +972 3 922 1249
e-mail: info@tti-telecom.com
WWW: http://www.tti-telecom.com
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provided within M2 PressWIRE. Data supplied by named party/parties.
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Copyright 2007 M2 Communications Ltd.
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