TEL AVIV, Israel, May 17 (UPI) -- Israeli VoIP company AudioCodes will purchase fellow VoIP provider Nuera Communications for $85 million, AudioCodes announced Wednesday.
Nuera sells its Voice over Internet Protocol products in North America, Asia and Europe, according to a report in the Israeli business magazine TheMarker.
"We are also pleased to welcome Nuera's employees to the AudioCodes team," AudioCodes President and Chief Executive Officer Shabatai Adlersberg said via a company statement.
"Together we will create a more capable, larger scale VoIP equipment provider in North America to serve service providers and support our network equipment providers in cable, wireless, and wire line markets and we will offer best of breed media gateway carrier grade products to a wider group of customers," Adlersberg continued.
Following the transaction, Nuera will become a wholly owned subsidiary of AudioCodes, according to the report.
AudioCodes said via the report that the takeover should be completed at the end of the second quarter or early in the third quarter of 2006, subject to regulatory approvals.
Both boards of directors have approved the merger, the report said.
