Intec Telecom Systems Plc has announced the completion of its acquisition of the operating assets of EUR Systems. EUR assets will be added to Intec’s existing service bureau operations in North America to offer a comprehensive suite of end-user and wholesale billing and BPO solutions to the North American ILEC, CLEC and IXC market.
The consideration, which will be paid in cash, is approximately $13.4 million, subject to a working capital adjustment. The value of the gross assets acquired is approximately $6.6 million. EUR, which reported revenue of $36.0 million in 2005, employs approximately 230 professionals in its operations in Mechanicsburg, Pa., and San Antonio.
“Completion of this acquisition allows Intec to substantially increase its market share in the access billing space and to expand our capabilities as an outsourced billing and business process provider, said Intec CEO Kevin Adams. We see very good synergies in this deal, which allows us to efficiently and effectively combine our outsourcing and service bureau operations under one experienced management team.”
The EUR customer base includes more than 40 telecom service providers in North America, three quarters of which are not existing Intec customers.
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