Key Developments For ECtel Ltd
ECtel Ltd (ECTX.O) (Consolidated Issue listed on NASDAQ Global Market)
ECtel Ltd. Announces Agreement To Be Acquired By cVidya Networks In All Cash Merger
ECtel Ltd. announced that it has entered into a definitive merger agreement for the acquisition of the Company by cVidya Networks Inc. (cVidya), a global leader in telecom revenue management, risk management, and dealer management solutions, in a cash transaction valued at $21 million (less transaction expenses of approximately $430,000). Under the terms of the agreement, ECtel shareholders will receive approximately $1.26 per share in cash upon the closing of the transaction, representing a premium of approximately 58% over ECtel's average closing share price over the 90 trading days ended October 21, 2009. There is no financing condition to the obligations of cVidya to consummate the transaction.
Vivo Selects ECtel Ltd.'s Fraud-Management Platform
ECtel Ltd. announced that Vivo, has upgraded to FraudView 8.2, Company's fraud-management system. The order was awarded to the Company and Bull, to supply Vivo with tools to obtain return on investment in its business-critical Information Systems (IS), allowing Vivo to operate with the highest security and efficiency levels.
ECtel Ltd. Reiterates H2 2009 Outlook
ECtel Ltd. reiterated its second half of 2009 outlook and expects to achieve non-GAAP break-even.
ECtel Ltd. Lowers Q4, FY 2008 Outlook; Issues Q4, FY 2008 EPS Outlook Below Analysts' Estimates
ECtel Ltd. announced that for the fourth quarter 2008, revenues are expected to be in the range of $4.5-$4.8 million, compared with the $5.8-$7.8 million range, implicit within the last annual guidance range, and a non-GAAP net loss per share range of $0.17-$0.19. For fiscal 2008, revenues are expected to be in the range of $24.7-$25 million compared with a formerly anticipated range of $26-$28 million and a non-GAAP net loss per share of $0.42-$0.44.. According to Reuters Estimates, analysts were expecting the Company to report revenue of $6.80 and non-GAAP earnings per share (EPS) of $(0.07) for the fourth quarter of 2008; revenue of $27 million and non-GAAP EPS of $(0.32) for fiscal 2008. The Company cited the impact on the business of the stronger than originally anticipated global financial crisis and economic downturn, the delayed completion of a particularly large project, as well as the volatile currency environment, in particular, the sharp changes in the British Pound and Euro exchange rates against the US Dollar, as the primary reasons for the outlook.
ZON Multimedia Places Order For ECtel Ltd.'s Fraud Management Solution
ECtel Ltd. announced that ZON Multimedia, Portugal's triple play operator, selected the Company's fraud management solution, FraudView 8.2, to protect revenue through real time detection and prevention of fraud losses.
