CTI Group acquires Soft-Com Inc.VALLEY FORGE Valley Forge, on the Schuylkill River, SE Pa., NW of Philadelphia. There, during the American Revolution, the main camp of the Continental Army was established (Dec., 1777–June, 1778) under the command of Gen. George Washington. , Pa.--(BUSINESS WIRE)--Dec. 16, 1996-- Telemanagement companies join forces for technology transfers and market synergies CTI (Computer Telephone Integration) Combining data with voice systems in order to enhance telephone services. For example, automatic number identification (ANI) allows a caller's records to be retrieved from the database while the call is routed to the appropriate party. Group (Holdings) Inc. (NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :CTIG CTIG Counter Terrorism Intelligence Group CTIG Combat Targeting and Intelligence Group (Langley, AFB,VA Air Combat Command) ) announced Monday that it has acquired Soft-Com Inc., a privately-held New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of telemanagement company, for a straight equity consideration equivalent to approximately to 12.5% of the combined companies' equity. Soft-Com will operate as a wholly-owned subsidiary of CTIG under the new name CTI Soft-Com Inc. from its existing offices in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . John Perri, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Soft-Com, will join CTIG's board of directors and will assume the position of president of the new subsidiary which will be responsible for all of the group's combined telemanagement business. The acquisition more than doubles CTIG's client base and strengthens the company's portfolio of telemanagement products which are used by companies, institutions and government agencies to control costs associated with operating telecommunications networks. For Soft-Com, Perri said, "The merger will result in a broader market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" for the UNITY Telemanagement Server. Additionally, it unites complementary products of both companies, including CTIG's Call Accounting Service Bureau, under the new CTI Soft-Com entity." Soft-Com's UNITY Server System supports Windows and Windows NT Server platforms and adds advanced capabilities not currently available in CTIG's Service Bureau or ITMS/III Telemanagement System, such as E-mail distribution of call accounting reports over corporate LANs and WANs, and computer telephony capabilities. CTIG Chairman and CEO Anthony P. Johns said that the agreement benefits both companies in several ways. Said Johns, "We pursued this merger because Soft-Com's Unity product fills a gap with a state-of-the-art product offering. Our telemanagement clients can now upgrade sooner with the Unity Server. "Furthermore their engineering uses object-oriented methodology in parallel with our own development program for telecommunications billing software." Johns said that the addition of Perri to CTIG's board of directors "will strengthen the board and enhance its ability to allocate R&D resources more cost-efficiently." Perri agreed that the R&D synergies of the combined companies offer great promise for the future. Aside from benefits in the telemanagement sector, Perri expressed excitement about CTIG's billing products for providers of telecommunications services, which are attracting increasing interest since passage of the Telecommunications Act of 1996. "CTIG's Neptune Billing and Customer Care System for Windows NT Server is very impressive," said Perri. "The enormous potential of this product in the hot telecommunications billing market was influential in negotiating a straight equity agreement in lieu of cash considerations." CTIG, through its CTI Data Solutions (USA) Inc. subsidiary, designs, develops, markets and supports information processing software and services for managing telecommunications systems. Business is conducted in two market sectors: billing solutions for providers of telecommunications services and network management solutions for corporate users of telecommunications services. Soft-Com Inc. founded 13 years ago designs, develops and markets a wide range of telemanagement products and currently serves an installed base in excess of 4,000 sites. CONTACT: CTI Group (Holdings) Inc., Valley Forge Mark H. Daugherty, CFO See Chief Financial Officer. , 610/666-1700 or Soft-Com Inc., New York John Perri, president/CEO, 212/242-9595 |
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