Voice over Packet technology provider AudioCodes
announced on Thursday its plans to acquire Netrake Corporation
, a provider of session border controllers (SBC) and security gateways.
"This agreement with Netrake provides AudioCodes (News
) with more products to help Service Providers and Network Equipment Providers (NEP) in enabling connectivity between disparate VoIP networks and deploying Fixed Mobile Convergence as well as IP Multimedia Subsystem (News
) (IMS) networks in the future," said AudioCodes' chairman, president and CEO Shabtai Adlersberg in a statement.
The purchase price is reportedly valued at $10 million payable in cash at closing, plus an additional $1 million if Netrake achieves certain financial measures as of the closing date.
"We believe that Netrake has built a strong team that has delivered field- proven Session Border Controllers and Security Gateways that fit well with AudioCodes vision of enabling IMS networks," stated Bruce Hill, CEO of Netrake. "This acquisition offers an even better future for our employees, customers and partners as we combine Netrake's products with AudioCodes financial strength, product portfolio and proven capability to deliver to NEPs and Service Providers."
The companies plan to complete the acquisition in the third quarter of 2006. The transaction has been approved by the boards of directors of both companies and by the stockholders of Netrake.
Today's news follows AudioCodes' launch of IPX
last month, its new IP-PBX packet filtering product for the call recording market. The company released SmartWORKS as the first of its new IP-focused suite of call recording products. AudioCodes announced that it will release other products from this family, including a combo of technologies from the company's suite, along with Ai-Logix’s products. Ai-Logix is a manufacturer of voice recording hardware, recently acquired by AudioCodes.