According to a report published in the 25 November 2006 Sunday Telegraph, Oracle Corporation is in early talks with Intec Billing (formerly Intec Telecom Systems).
In the Sunday Telegraph article, Iain Dey reports that Oracle’s president, Charles Phillips, met with Intec Billing’s CEO Kevin Adams earlier this month:
Charles Phillips, Oracle’s president, met Intec’s chief executive Kevin Adams in central London earlier this month. Although Intec has yet to receive an offer from Oracle, a potential transaction has been discussed.
Intec, which produces billing systems for telecoms companies, has beaten Oracle in two recent competitive tenders. Shares in Intec – hit by a profit warning last week – bounced 3 per cent on Friday in anticipation of a bid.
In a regulatory statement released by Intec on 27 November 2006, Intec Telecom Systems PLC officially confirmed that it is not in preliminary talks:
The Company has noted the article in the Sunday Telegraph on 26 November 2006 and can confirm that it is not in preliminary talks with any party with regard to any possible offer for the Company.
Management remains focused on improving the financial performance of the business in 2007.
As previously stated, management will report results for the twelve months ended 30 September 2006 on 13 December 2006.
OSS News Review last month reported that Oracle Corporation recently acquired Metasolv through a cash merger for $4.10 per share, or approximately $219.2 million. The agreement is subject to stockholder and regulatory approval and is expected to close in late 2006 or early 2007.
About Intec Telecom Systems PLC
Intec supplies billing software solutions to over 60 of the world’s top 100 telecoms carriers and is one of the world’s fastest growing major BSS/OSS (business and operations support systems) vendors. Intec’s 350+ customers include AT&T, BellSouth, Cable & Wireless, The Carphone Warehouse (UK), China Unicom, Deutsche Telekom, Eircom (Ireland), France Telecom, Hutchison 3G, O2, Orange, T-Mobile, Telefonica, Vodafone, Virgin Mobile, Vivo and Verizon. Intec has a comprehensive and expanding range of solutions and services ranging from market leading mediation and convergent billing products such as their Wholesale Business Management solution through to innovative IPTV solutions. Intec works closely with its customers, many of whom have been with Intec since its inception, to provide the highest standards of performance, flexibility and robustness to help carriers service their customers effectively and profitably. Founded in 1997, Intec is listed on the London Stock Exchange (ITL.L) and has over 1,600 staff and 31 offices in 25 countries. For more information visit ww.intecbilling.com
About Oracle
Oracle (NASDAQ: ORCL) is the world’s largest enterprise software company. For more information about Oracle visit Oracle’s Web site at http://www.oracle.com.