MIND CTI has signed a definitive agreement to acquire Omni Consulting, also Abacus Billing, a UK-based provider of billing and customer care software solutions in a service bureau mode, mainly to European carriers that require complex solutions. The acquisition will cost approximately $7.4 million in cash, the bulk of which will be paid upon the closing of the transaction.
Under the agreement, Abacus Billing will become a new division at MIND. It will continue to be led by Karl Wills, Abacus Billing CEO, and the current management team.
The transaction is expected to be neutral to earnings per share, excluding acquisition-related items, in the fourth quarter of fiscal 2007.