VoIP specialist AudioCodes said it will purchase the remaining outstanding shares of CTI Squared Ltd. CTI2’s platforms integrate data and voice messaging services over Internet, intranet, PSTN, cellular, cable and enterprise networks.
In February of 2006, AudioCodes acquired 10 percent of the outstanding shares of CTI2 for $1 million in cash. AudioCodes intends to exercise the option it also obtained to acquire the remaining shares of CTI2 for a total purchase price of $10 million, payable in two equal installments, one this year, and another next year.
Fastweb in Italy is using both company’s products in the all-IP network it is building. Audiocodes said Fastweb plans to expand its use of CTI2’s InTouch platform, integrated with AudioCodes’ IPmedia Media Server, for advanced voicemail and unified messaging services.