AudioCodes Announces Acquisition of Ai-Logix

LOD, Israel - AudioCodes Ltd. (Nasdaq: AUDC) has acquired privately-held Ai-Logix Inc. of Somerset, N.J. Ai-Logix is a provider of advanced voice recording hardware technology for the call logging and voice recording industries. Ai-Logix had revenues of approximately $13 million in 2003.

 

AudioCodes paid $10 million in cash at the closing for all of the outstanding shares of Ai-Logix. In addition, AudioCodes will be required to pay an additional purchase price in 2005 based on the achievement of revenue milestones by the Ai-Logix business in 2004. This installment is currently estimated to be up to $10 million. Upon closing of the acquisition, Ai-Logix became a wholly owned subsidiary of AudioCodes Inc., which is a wholly-owned subsidiary of AudioCodes Ltd. Ai-Logix's current management will remain in place.

 

A recent Venture Development Corporation VoP market study names AudioCodes a leader in the VoP communication boards market with a market share of 30 to 35 percent. According to Datamonitor, the contact center market and the call logging and recording industries are rapidly adopting IP-based networking solutions. With the acquisition of Ai-Logix, AudioCodes plans to enter the call recording market with its VoP communications boards by leveraging Ai-Logix's technology, strategic partnerships and customer base.