WOODBURY, N.Y.-Comverse Technology Inc. is acquiring Exalink Ltd., an Israel-based Wireless Application Protocol gateway and application software developer.
The tax-free, stock-for-stock transaction will be accounted for as a pooling of interests, according to the agreement. Comverse will issue about 5.3 million shares of common stock to Exalink shareholders and will also assume the companies outstanding options and warrants.
Charges in relation to the acquisition are expected to reach $15 million, which is expected to affect earnings-per-share by 4 cents this year and 8 cents next year.
