Acme Packet Acquires Covergence
Acme Packet has acquired privately-held Covergence for consideration valued at approximately $22.8 million, consisting of approximately $22.2 million of Acme Packet common stock and an aggregate of $0.6 million in cash payments to stockholders of Covergence and tax withholding payments. The Maynard, MA-based company is an emerging provider of software-based session border controllers (SBCs) for delivering VoIP/IP telephony, unified communications and service-oriented architecture (SOA) applications within global 1,000 enterprises.
Covergence’s software-based SBCs are intended to complement Acme Packet’s existing Net-Net family of custom hardware-based SBCs by extending Acme Packet’s low-end product range to address the needs of small and remote enterprise locations. The core Covergence team will be relocated to Acme Packet’s headquarters in nearby Burlington, MA.