VoIP pioneer VocalTec Communications Ltd. (Nasdaq:VOCL) has acquired the assets of Israeli telecommunications convergence solutions provider Outsmart Ltd., including primary customer and partner contracts, for a few million dollars.
According to IVC Online, Outsmart has raised $21 million; its sale is another in the long list of exits by companies sold for less than the amounts invested in them.
Herzliya-based VocalTec has $11 million in cash. Outsmart's technology can unify wireless services with VoIP. VocalTec will employ some of Outsmart's employees.
VocalTec president and CEO Ido Gur said that the acquisition enabled the company to better address the requirements of mobile service providers. "Mobile service providers are looking for innovative services that combine VoIP and IN-based services so that they are better positioned, given the new competition they face from Skype and other cross-geography services.
VocalTec's share rose 8.7% at the opening on Nasdaq to $1.75, giving a market cap of $10 million.
Published by Globes [online], Israel business news - www.globes-online.com - on December 10, 2009
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