Tdsoft and VocalTec to Merge

Tdsoft and VocalTec, both suppliers of VoIP gateways and other packet voice equipment, agreed to merge. Tdsoft's shareholders will be issued VocalTec shares in exchange for all of the share capital of Tdsoft. Following completion of the transaction, the shareholders of Tdsoft will own 75% of the outstanding share capital of VocalTec and the current shareholders of VocalTec will own the remaining 25%. VocalTec will remain a publicly-held company and Tdsoft will become a wholly-owned subsidiary thereof.

Following completion of the transaction, Cisco Systems International BV (a subsidiary of Cisco Systems Inc.) and HarbourVest Partners, LLC, currently major shareholders of Tdsoft, and Deutsche Telekom, currently a major shareholder of VocalTec, are expected to hold approximately 36%, 20% and 3.8%, respectively, of VocalTec's share capital.

The companies said that by combining their resources, their businesses will create a stronger player in the growing VoIP market.
http://www.tdsoft.com
http://www.vocaltec.com