WOODBURY, N.Y.-Comverse Technology Inc. acquired Cambridge, Mass.-based InTouch Systems Inc. in a stock-for-stock transaction, said Comverse.
Comverse said it issued about 340,000 new shares to InTouch Systems shareholders, and is assuming options to issue approximately 40,000 additional shares. One-time merger-related charges are not expected to exceed $1.5 million.
InTouch Systems develops speech processing software and middleware for the telecommunications industry.
