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Intec Telecom agrees to sell certain assets to VoluBill for initial 1 mln stg

Mon, 19th Nov 2007 09:37

LONDON (Thomson Financial) - Intec Telecom Systems PLC said it has agreed
to sell certain assets, including software intellectual property rights and customer contracts, to France-based VoluBill SA for an initial 1 mln stg.

The assets to be transferred relate to Intec's Denmark-based 'Intec DCP' rating and charging product, the company said.

The group added Intec will also receive a proportion of support and maintenance revenues from the Intec DCP customer contracts transferred, as well as a proportion of licence fees for new sales contracted by VoluBill, for a period of two years.

The deal also provides for the transfer of around 40 staff to VoluBill. The two companies have also agreed to enter into a partnership agreement which will allow Intec to resell the DCP product as part of its business and operations support systems portfolio, Intec stated.

The support systems company added it does not expect the disposal, the sale proceeds or subsequent revenues to have a material impact on its business in future periods. The transaction is expected to close on Nov 30 and the proceeds of the sale will be used for general corporate purposes, Intec said.


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