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.

The Daily


Trian Buys Comcast Shares

Hedge fund Trian Fund Management has taken an $870mln stake in Comcast . Trian has now accumulated approximately 20mln shares in the MVPD, according to a WSJ report. “We have recently begun what we believe

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