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| TTI Telecom to Acquire Telesens LLC TTI Team Telecom International 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. 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. write your comments about the article :: © 2007 Networking News :: home page |