ADC Telecommunications Inc. announced it is selling its customer care and billing software division, including its Singl.eView platform for revenue, transaction, billing and service management, to operational support services vendor Intec Telecom Systems for $74.5 million.
Under the agreement, Intec will acquire all ADC customer care and billing software offerings, 600 employees, current software customers and related facility space. The transaction is expected to close in approximately 90 days, following approval by Intec shareholders.
“This decision advances our strategy to focus ADC on our core strengths,” said Robert Switz, president and chief executive officer at ADC. “Our product and service offerings are designed for the infrastructure layer of the network, which is the fundamental element that wireline, wireless, cable, enterprise and broadcast networks require to scale services and function with high efficiency.”
Following news of the pending transaction, shares of ADC were up about 2 points to trade at $2.54.
