"VocalTec Communications Ltd., a global provider of carrier-class multimedia and voice-over-IP solutions, announced that the company has successfully merged with YMAX Corp., a phone company with the largest competitive local exchange carrier (CLEC) network in the U.S, and inventor of the magicJack," writes TMCnet's Jai C.S.
"Both the companies believe that the combined company has an enterprise value of $245 million and a per share value of at least $17.50 on a stock split adjusted basis. The previous holders of VocalTec will have 1,173,294 shares of common stock following the merger. VocalTec expects to have revenues ranging from $110 million to $125 million this year. With over $40 million cash/securities on hand and no debt, VocalTec expects to show a profit in the current quarter," Jai writes.
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YMAX Merges with VocalTec