DALLAS-DSC Communications Corp. signed a definitive agreement to acquire all of the outstanding stock of Celcore Inc., a Memphis, Tenn.-based manufacturer of Global System for Mobile communications and Advanced Mobile Phone Service mobile switches.
“The acquisition of Celcore represents a strategic addition to the DSC line of wireless switch products,” said James L. Donald, chairman and chief executive officer of DSC. “Given the wireless marketplace’s rapid growth and DSC’s long-standing leadership position in advanced (intelligent network) and mobile switching platforms, Celcore’s GSM cellular systems are an ideal match for our expanding product line.”
Terms of the agreement call for DSC to issue shares of common stock, valued at about $165 million, in exchange for all of the outstanding shares of Celcore and the assumption of substantially all of the stock options of Celcore, said DSC. The transaction is expected to be completed by the end of the year.
