A private investment fund with holdings in the telecommunications industry this week set the wheels in motion to acquire a Manhattan-based developer of VoIP software solutions for $1.17 million, according to a filing with the U.S. Securities and Exchange Commission.
D4 Holdings LLC acquired deltathree Inc, a provider of integrated VoIP telephony services, products, hosted solutions and infrastructure.
According to the SEC, the deal – which is pending – would see D4 Holdings purchase 54 percent of the deltathree (News - Alert), including 39 million shares. D4 Holdings also owns ACN, Inc., a large international direct seller of telecom services.
Deltathree could not immediately be reached for comment. The company made no announcement on its Web site, whose press section apparently hasn’t been updated in 2009.
The company’s future isn’t clear, though the technology it dealt in – VoIP – appears to be emerging in this slower economy as an attractive cost-saver.
Bucking the kind of gloomy economic conditions which today fueled poor earnings reports from tech companies such as Lenovo and Acme Packet, VoIP made a strong showing at the premiere industry event, this week’s Internet Telephony Conference & Expo.
As Greg Galitzine of ITEXPO (News - Alert) host TMC reported today in an article titled “VoIP Is Alive and Well,” the show drew “people looking for solutions, the Exhibit Hall was full of vendors who were only too happy to speak to the attendees, the meeting rooms were full, the conference sessions were well attended, and all in all the show served as a barometer for the industry.”
One blogger who attended the show and was cited by Galitzine, Matthew Nickash of Considering Convergence (News - Alert), reportedly wrote: “While the perils of the new economy have hit businesses hard across virtually every industry, IT decision makers and business owners can take comfort in the fact that ‘affordable innovation’ is truly possible.”
Yet, as in any industry, regardless of the economy, not every VoIP company is successfully navigating the recession.
It isn't clear what brought deltathree to the table with D4 Holdings.
And, as Doug Mohney of FierceVoIP writes today of deltathree, the SEC (News - Alert) filing “doesn’t indicate the ultimate intent of D4 and ACN’s leadership.”
“Will it continue to run deltathree as an independent company?” Mohney writes. “Use deltathree’s status as a public traded company for a reverse takeover to turn ACN into a public company?”
According to the SEC, deltathree and D4 Holdings intend to seal their deal by Feb. 10.
“Upon the closing of the transaction, certain of (deltathree’s) existing directors will resign, and the board of directors of (delathree) will nominate to serve as directors of the Company a sufficient number of nominees of (D4 holdings) such that such nominees shall constitute a majority of the board of directors,” the SEC filing says.
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Michael Dinan is a contributing editor for TMCnet, covering news in the IP communications, call center and customer relationship management industries. To read more of Michael's articles, please visit his columnist page.
Edited by Michael Dinan