Intec has completed its acquisition of the operating assets of outsourced billing and business process outsourcing specialist EUR Systems.
The EUR assets will be added to Intec's existing service bureau operations in North America, to offer a comprehensive suite of end-user and wholesale billing and BPO solutions to the North American ILEC, CLEC and IXC market, according to Intec.
The consideration, which will be paid in cash, is approximately $13.4 million, subject to a working capital adjustment. The value of the gross assets acquired is approximately $6.6 million. EUR, which reported revenues of $36.0 million in 2005, employs approximately 230 employees.
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