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Technology / AI and automation

COMVERSE DOUBLES REVENUES WITH $858M BOSTON BUY

Woodbury, New York-based Computer and telecommunications systems maker, Comverse Technology Inc is set to acquire Boston Technology Inc in a $858m stock swap. Wakefield, Massachusetts- based Boston Technology, maker of voice and internet messaging systems announced interim results which saw sales up 68% to $129.7m, while profits grew 258.7% to $16.5m. Comverse vice president Paul Baker said Boston Technologies has a large US presence, where Comverse is big in Europe, so the two are complementary. Boston will assume the Comverse name and retain all of its 1,000 staff and offices. Boston’s Wakefield offices will form the headquarters of Comverse’s new Networks division. Boston Technologies recently closed several deals to provide its services to a series of Brazilian telecommunications operations (CI No 3,207) and with TelecomAsia Corp, in a deal worth some $10m (CI No 3,177). Baker said the acquisition of the company should enable Comverse, which employs some 1,500 staff, to double its revenues, while at the same time broaden its global coverage. In March Comverse reported profits for the year to December 31 1996 up 41% at $17.1m, on revenue up 27.6% at $145.9m. The deal is expected to be completed by the end of the year.

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CBR Staff Writer

CBR Online legacy content.