Acme Buys Covergence for $22.8M

Ryan McBride4/30/09

Burlington, MA-based Acme Packet (NASDAQ:APKT), which sells hardware and software for managing and securing communications over the Internet, reports today that it has acquired privately owned communications software firm Covergence, of Maynard, MA, for about $22.2 million in Acme common stock and $600,000 in cash to Covergence shareholders and tax withholding payments. Covergence executives Ken Kuenzel, Jim Donovan, and Marty Falaro will move to Acme packet in Burlington to work in similar roles. Acme plans to close Covergence’s offices in Maynard, and the acquirer is still deciding which other employees among the 60 workers at Covergence it will keep, says Richard Williams, a spokesman for Acme.