Infosys develops voice, video, and data multimedia systems.
Comverse's string of acquisitions is continuing. Infosys of the Comverse group is acquiring German company SYBORG Informationsysteme, which develops software-based systems for digital management and reception of voice and Internet transmission. The volume of the deal is $19.25 million according to the yesterday's closing share price.
The acquisition was implemented through a share swap. Comverse will allocate 201,000 shares to SYBORG shareholders in exchange for full control of the company. One-time acquisition expenses are not expected to exceed $4 million. Except for these expenses, Comverse does not expect the acquisition to dilute its per-share profit.
Infosys general manager and president Dan Bodner said that SYBORG's existing products and technology can be combined with Infosys's basket of products. "This acquisition supports our strategy to expand our business and direct presence in the German market and Central Europe", he said.
SYBORG will continue operating from its location in Bexbach near Frankfurt/Main. The company management will continue to lead its activity.
Published by Israel's Business Arena on July 24, 2000