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Network Equipment Technologies (News - Alert) has completed the acquisition of Quintum Technologies, a leading enterprise VoIP access switching and gateway solutions provider.
The Fremont, Calif.-based NET (News - Alert), a global provider of multi-service network exchange solutions for enterprise and government customers, acquired all of the outstanding shares of Quintum for a total equity value of $41 million, comprised of $20.5 million in cash and 1,732,274 shares of NET stock, according to the companies.
In addition, NET has also paid off approximately $2.1 million in debt from Quintum's (News - Alert) balance sheet, and has issued new stock options to Quintum employees.
C. Nicholas Keating, Jr., NET President and CEO, said he expects the acquisition to broaden NET’s VoIP product solutions and increased the scale of our VoIP business.
”Quintum's technology and product offerings enhance our ability to satisfy the requirements of enterprise and government customers, and to address the converged unified messaging and unified communications markets," Keating said.
NET’s NX (network exchange) and VX (voice exchange) products enable interoperability and integration with existing networks for seamless migration to secure IP-based voice and data communications.
The company’s family of products are purpose-built for mixed-service, multi-protocol networks; bandwidth-sensitive site communications; high performance, security-sensitive transmissions; and converged communications.
In addition, Quintum, a subsidiary of NET, delivers VoIP access solutions that bring the reliability and voice clarity of public telephone networks to Internet telephony
Tim Gray is a Web Editor for TMCnet, covering news in the IP communications, call center and customer relationship management industries. To see more of his articles, please visit Tim Gray’s columnist page.
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