NAPERVILLE, Ill. - December 11, 2018 - (PressRelease.com)
PACKETOP, a leading provider of network data automation and network optimization located in Naperville, IL, today announced that it has been acquired by MTechnologies, GMBH a leading provider of enterprise software solutions based in Zug, Switzerland in an all-cash transaction.
Pursuant to the terms of the merger agreement, MTechnologies (together with its affiliate, 3M Holding company, AG, an investment firm) purchased all of the outstanding shares of PACKETOP in an all-cash transaction prior to Nov. 19. PACKETOP Board of Directors unanimously approved the agreement and believes the transaction maximizes shareholder value. It will also bring a better support and presence for their new customers, Mobilitie, Verizon Wireless & P&G.
Following the execution of the merger agreement, “MTechnologies announced that Adam Maghrouri will continue as the president of PACKETOP. Adam Maghrouri brings 20 years of successful experience in the Information technology field, we will rely on his total discretion as for the direction of PACKETOP in the Americas,” said Ivo Szakolczai, president of MTechnologies.
Today's announcement is a tremendous accomplishment for MTechnologies and highlights the continued success of the Company and foothold in the U.S. market, continued Ivo Szakolczai.
PACKETOP will be relocating to the Loudoun County, Northern Virginia area, moving closer to the technology corridor and their customers.
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Original Source: MTechnologies, a Swiss Software Company Acquires PACKETOP, a US Software Company in All Cash Transaction.
