WOODBURY, N.Y.-Comverse Technology Inc. and Boston Technology Inc. have merged in a tax-free, stock-for-stock transaction. As a result of the merger, each share of Boston Technology common stock was converted into 0.65 of a share of Comverse Technology common stock.
The combined company will operate as Comverse Technology Inc.
Kobi Alexander, chairman, president and chief executive officer of Comverse, will continue in his present role, while Francis E. Girard, Boston Technology’s president and CEO will maintain those titles in the Comverse Network Systems Division, headquartered in Wakefield, Mass.
“Boston Technology is a leader among wireline network operators, and Comverse is a leader among digital wireless network operators. Together, we have more than 200 telecommunications network operator customers, including 13 of the world’s 20 largest telephone companies, with very little customer overlap,” said Alexander.