iLinc Signs Definitive Agreement to be Acquired by BroadSoft
Sep 14, 2011 10:55:00 AM
Copyright Business Wire 2011
PHOENIX--(BUSINESS WIRE)-- iLinc Communications, Inc., a leading provider of web conferencing services for global businesses, governments and educational institutions, today announced that on September 7, 2011, it signed a definitive merger agreement under which BroadSoft, Inc. would acquire all of the outstanding stock of iLinc. BroadSoft is the leading global provider of software that enables mobile, fixed-line and cable service providers to deliver real-time communications over their IP networks.
The merger consideration consists entirely of cash, and the closing is subject to customary closing conditions, including approval by various classes of iLinc debt and equity holders. If the merger is completed, the iLinc common stockholders could receive, in total, approximately $0.07 per share, with approximately $0.04 per share payable at the closing of the merger, and $0.03 per share held in escrow for up to 15 months to satisfy potential post-closing indemnification claims and out-of-pocket third party expenses of the Securityholders’ Representative. Assuming completion of all necessary closing conditions, the transaction is expected to close on or before September 30, 2011.
About iLinc
Phoenix-based iLinc provides advanced web conferencing services for businesses, governments and educational institutions around the world. For more than a decade, the company has specialized in helping organizations leverage virtual events and conferencing to reduce travel time, expenses and environmental impact. iLinc and its respective logo are the trademark of iLinc Communications, Inc.
iLinc Communications, Inc.
James Powers, 602-718-1505
President and Chief Executive Officer
jpowers@ilinc.com
Source: iLinc Communications, Inc.
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