MTS, Mer Telemanagement Solutions Ltd. (NASDAQ Capital Market: MTSL), a provider of business support systems (BSS) for comprehensive telecommunication management and customer care & billing solutions, has signed a definitive agreement to acquire the telecom expense management and call accounting software assets of TelSoft Solutions, Inc. of Glendale, California. The acquisition will expand MTS’ TEM (Telecommunications Expense Management) solution.
“This acquisition is in line with our business objectives and delivers on our strategy to improve our market position, accelerate growth and profitability and as a result enhance shareholder value,” said Eytan Bar, President and CEO of MTS.
Under the terms of the agreement, MTS will acquire certain assets of TelSoft and assume certain enumerated liabilities. MTS will pay TelSoft $1.1 million in cash plus earn-out payments based on revenue milestones for the 12 month period following the acquisition. The acquisition is expected to be completed on July 31, 2006. [Read more…]