MARKHAM, ONTARIO and INDIANAPOLIS, INDIANA–(Marketwired – Oct. 19, 2015) – Enghouse Systems Limited (TSX:ESL) (“Enghouse”) and CTI Group (Holdings) Inc. (“CTI”) (OTC:CTIG) jointly announced that they have entered into a definitive agreement pursuant to which Enghouse will acquire CTI.
Under the terms of the agreement, which has been approved unanimously by the board of directors of both companies, a newly formed wholly-owned subsidiary of Enghouse will commence a tender offer for all outstanding shares of CTI for US$0.61 per share in cash, for a total equity value of approximately US$22.5 million.
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