Law360, New York (August 03, 2012, 8:05 PM ET) -- Comverse Technology Inc. has sold its majority stake in roaming products maker Starhome BV to private equity firm Fortissimo Capital Ltd. in a cash deal valued at $80.3 million, according to Thursday regulatory filings.
Per the agreement with Israel-based Fortissimo, about $10.5 million will be held in escrow for 24 months to cover potential post-closing indemnification claims, Comverse said in an 8-K filed with the U.S. Securities and Exchange Commission. Pending regulatory approvals, the deal is expected to close by Oct. 19.
“In addition, the share...
Fortissimo Takes Comverse's Software Co. Stake For $80M
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