Avaya offers a tender to Acquire Ubiquity Software
Avaya news
Avaya Inc. (NYSE:AV) today announced a tender offer by its wholly-owned subsidiary to acquire Ubiquity Software Corporation plc (LSE:UBQ.L). Ubiquity's core software product is one of the leading software platforms for the development and delivery of SIP end-user applications.
The offer price is 37.3 pence in cash for each Ubiquity share. This values the entire issued and to be issued share capital of Ubiquity at approximately GBP 74.3 million (approximately $144 million)1 after adjusting for the assumed proceeds from the exercise of options over Ubiquity shares.
Ubiquity develops and markets SIP-based communications software for fixed and mobile communications service providers, systems integrators, independent software vendors and channel partners. Ubiquity's range of products has been developed to take advantage of the telecommunications industry's migration toward all-IP networks.
"We believe that the addition of Ubiquity's next generation software platform to Avaya's portfolio will help customers and developers enhance the integration of communications technologies and business processes," said Micky Tsui, vice president, global communications solutions, Avaya. "We believe that Ubiquity bridges a wide range of fragmented technologies that cost customers' money, time and speed-to-market."
Links;
Avaya news release
Ubiquity Software
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