PAETEC Holding Corp. announced that it has signed a definitive agreement to acquire XETA Technologies, Inc. for $5.50 per share in cash valued at approximately $61 million. XETA will also become part of PAETEC’s robust Managed Services portfolio, consisting of products such as hosted services, service lifecycle management software and Allworx IP-PBXs.Under the terms of the merger agreement, which was approved by the boards of directors of both companies, XETA Technologies, Inc. will become an indirect wholly-owned subsidiary of PAETEC Holding Corp.
Research In Motion (RIM) and the BlackBerry Partners Fund announced that RIM is making a lead commitment to BlackBerry Partners Fund II, a new US$150 million independent venture capital fund focused exclusively on mobile computing. BlackBerry Partners Fund II is
expected to launch in June 2011 and will have a broader international mandate than the first Fund.
Atlanta-based Integrated Mobile BroadSource (IMBS) announced that it has acquired Austin, Texas-based Movero Technology, Inc. Following closely behind the January 11, 2011 merger of BroadSource, Inc. and Integrated Mobile, the combined entity, IMBS, has acquired a wireless management technology leader in the fiercely competitive telecom expense management space. IMBS will change the name of the company to Movero, Inc. and IMBS CEO, Michael Lustig, will continue in his leadership role as CEO of Movero, Inc. The new company will be headquartered in Atlanta, Georgia, and will continue to maintain offices in Ohio and Texas.
