NEW YORK-TTI Team Telecom International Ltd., an Israeli developer of operations support and network management systems for telecommunications providers, was slated to go public Nov. 22.
The initial public offering was expected to comprise 2.5 million shares of common stock priced between $7 and $9 each. The stock will trade on Nasdaq. Oppenheimer & Co. Inc., New York, was lead underwriter.
The company, headquartered in Kiryat Aryeh, Israel, provides turnkey systems using its proprietary Netrac family of software modules. “Netrac is designed to manage networks that include heterogeneous network elements, thereby protecting a customer’s investment in its current legacy systems while facilitating the migration to and installation of new, advanced technologies,” TTI said in its filings with the Securities and Exchange Commission.
“The company’s products manage mission-critical functions, like fault management, performance management, configuration management and security management. TTI also develops advanced software to manage individual components of a network and ancillary equipment like line testers.”
TTI’s customers include Teleport Communications Group, a competitive local exchange carrier based in the Staten Island section of New York City, and Cellcom Israel Ltd. Outside of Israel, its largest revenues come from its business in the United States, Canada, Columbia and Hungary.
TTI has established joint marketing agreements with companies including Siemens Aktiengesellschaft Public Communications Systems, General Signal Networks and Consultronics Ltd.
In its SEC filings, TTI identified actual and prospective competitors in six categories: the internal design and development staff of its telecommunications carrier customers; carriers like Nynex Corp. and GTE Corp. that resell the management systems they develop internally; equipment vendors like Lucent Technologies Inc. and L.M. Ericsson; computer manufacturers like IBM Corp., Sun Microsystems Inc. and Hewlett-Packard Co.; other companies like itself, including Objective Systems Integrators, Bellcore Inc., Inet Inc. and MAXM Systems Corp.; and systems integrators like TCSI Corp. that provide programming services to develop customer-specific applications.
