Voice - Monday, June 18, 2007
Counterpath Pays $21.6M For VoIP's NewHeights
British Columbia's New Heights was founded back in 1998 and has raised $25M. So today's announcement that that it was being bought out by competitor Counterpath (OTCBB: CTPS) for an aggregate of cash and stock equal to $21.6M, qualifies as a save, not a win.
As part of the transaction, Wesley Clover, a private equity firm will invest in CounterPath. The combined entity says it wants to be the dominant endpoint provider for fixed and mobile operators and infrastructure providers across all desktop, embedded and mobile device platforms.
Counterparth says it will start selling New Heights' software to its customers like Vonage.
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