Comverse Technology Acquires 21.8% of DCL Technologies, A Developer Of Advanced Software With Interests Including Computer-Telephony Integration And Wireless Data Communications.WOODBURY, N.Y.--(BUSINESS WIRE)--March 3, 1995--Comverse Technology, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CMVT CMVT Converse Technology ) announced today that it has acquired 21.8% of DCL (1) (Digital Command Language) Digital's standard command language for the VMS operating system on its VAX series. (2) (Data Compression L Technologies Ltd. (DCL) in a $2.45 million transaction, $1.87 million of which goes directly to DCL, increasing its stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. by that same amount. DCL is a developer of advanced software-based products and solutions, with specialized expertise in communications processing. DCL also has equity interests in several emerging technology companies, including an approximately 53% ownership stake in SoftTalk Communications Ltd., a leading developer of computer-telephony integration technology and product solutions for intelligent call control and routing, unified messaging Having access to e-mail, voice mail and faxes via a common computer application or by telephone. For example, unified messaging may send faxes and digitized voice mail to a mail server that turns them into e-mail attachments. , and coordinated voice/data transfer and management. Other DCL affiliates include RDC RDC Republique Democratique du Congo (French) RDC Rez de Chaussee (French: Ground Floor) RDC Red Deer College RDC Remote Desktop Connection (Microsoft) RDC Rowan Companies, Inc Communications Ltd. (RDC), which is approximately 39% owned by DCL. RDC has employed its expertise in spread spectrum communications (communications) spread spectrum communications - (Or "spread spectrum") A technique by which a signal to be transmitted is modulated onto a pseudorandom, noise-like, wideband carrier signal, producing a transmission with a much larger bandwidth than that of the data modulation. , radio circuits and networks, and real-time network management software in the development of a Wireless LAN (Local Area Network) system for portable and desktop computers. Kobi Alexander, Comverse's President, Chairman, and Chief Executive Officer, said, "DCL is a valuable well-spring of market-driven, software-based products and solutions, some of which are complementary with Comverse's present and planned products. We expect that our new relationship with DCL will facilitate cooperation between our two organizations in exploring and developing mutually beneficial opportunities. In addition, DCL's expertise in nurturing and growing new technology companies has considerable investment appeal, and we believe there are several opportunities being developed within DCL and its affiliates that will become profitable, free-standing businesses." At Sept. 30, 1994, DCL had stockholders' equity of approximately $7.3 million and total assets of approximately $8 million. For the nine months ended Sept. 30, 1994, DCL posted revenues of $2.9 million and net income of $396,000. DCL's revenues do not include the results of several affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. in which DCL holds minority positions ranging from approximately 24% to 49%. DCL is headquartered in Herzlia, Israel, and its shares are publicly traded on the Tel-Aviv Stock Exchange. Comverse Technology Inc., headquartered in Woodbury, N.Y., designs, develops, manufactures and markets special purpose computer and telecommunications systems for a variety of communications processing applications, including telephone-accessed, multimedia messaging and information processing systems marketed under the name TRILOGUE(R) and multiple channel, multimedia digital recording systems marketed under the name AUDIODISK(TM). CONTACT: Comverse Technology Inc., Woodbury Kobi Alexander/Paul D. Baker, 516/677-7200 |
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