Xconomy Boston

Acme Packet Acquires Covergence Inc. for $22,800,000

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=983fceca-dd4c-4ef4-851c-b748105d6106&Preview=1
Date
4/30/2009
Company Name
Covergence Inc.
Mailing Address
One Clock Tower Place, Second Floor Maynard, MA 01754
Company Description
Covergence is the leader in scaling, securing and controlling VoIP and other real-time services based on the Session Initiation Protocol (SIP). The Covergence Eclipse SIP session manager is purpose-built to address the challenges of the access edge, giving users the secure, instant, and reliable access to SIP services they expect while giving organizations the complete control and visibility they require.
Website
http://www.covergence.com
Transaction Type
M&A
Transaction Amount
$22,800,000
Transaction Round
Proceeds Purposes
M&A Terms
Acme Packet, Inc. (NASDAQ:APKT), the leader in session border control solutions, today announced that it has acquired privately-held Covergence, Inc. for consideration valued at approximately $22.8 million, consisting of approximately $22.2 million of Acme Packet common stock and an aggregate of $0.6 million in cash payments to stockholders of Covergence and tax withholding payments.