Billing systems vendor CSG Systems has reached an agreement to buy United Kingdom-based Intec Telecom for $372 million.
Intec Telecom is an international provider of business support systems (BSS) software that serves roughly 60 percent of the world’s top 100 communications service providers, including fixed, mobile and next-generation networks.
Englewood, Colo.-based CSG Systems is one of the more well-known billing vendors in the cable space, with customers such as Comcast, Cox Communications and Charter Communications.
The board of directors of both CSG Systems and Intec Telecom reached an agreement on the terms of a recommend cash offer, and the Intec Telecom board of directors intends to recommend that Intec shareholders approve the transaction.
Under the terms of the proposed acquisition, Intec Telecom shareholders will be entitled to receive 72 pence in cash for each Intec Share, valuing the transaction at approximately $372 million.
The deal is expected to close in the fourth quarter of 2010.
“The communications industry is dramatically changing,” said CSG CEO and President Peter Kalan. “Consumers have more choices for content, devices and providers. This has created an opportunity for service providers to differentiate their offerings by being more flexible and responsive to the end consumers.
“We believe that both Intec’s broad suite of solutions aimed at fixed mobile and next-generation networks and CSG’s extensive customer interaction management suite will be attractive to one another’s customer base, as well as service providers worldwide.”