TTI Team Telecom International Ltd. (Nasdaq:TTIL) ("TTI
Telecom"), Petach Tikvah, Israel, a global supplier of Operations
Support Systems (OSS) to communications service providers, 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, Kazakhstan Telecom, 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 TTI
Telecom," said Meir Lipshes, CEO and Chairman of the Board.
"Bringing Telesens onboard achieves two important goals for TTI
Telecom, 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, Europe and Asia-Pacific.
For more information, visit www.tti-telecom.com or call
212/896-1209.
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