This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

VocalTec And YMAX/magicJack Announce Merger

In the news release, VocalTec and YMAX/magicJack Announce Merger, issued 16-Jul-2010 by VocalTec Communications Ltd. over PR Newswire, we are advised by the company that the first paragraph, fourth sentence, should read, "The parties believe that the combined company has an enterprise value of $245 million and a per share value of at least $17.50 on Monday, July 19th, 2010 on a stock split adjusted basis." rather than "The parties believe that the combined company has an enterprise value of $245 million and a per share value at least $17.50." In addition, third paragraph, first sentence should now end with "2008." instead of "2009." as originally issued inadvertently. The complete, corrected release follows:

VocalTec and YMAX/magicJack Announce Merger

Combined company has the use of over 30 patents or patents pending

YMAX/magicJack and VocalTec to advance lead on voice on everything SIP platform including free phone numbers, contacts on network, and free domestic local and long distance

NETANYA, Israel and WEST PALM BEACH, Fla., July 16 /PRNewswire-FirstCall/ -- VocalTec Communications Ltd. (Nasdaq: VOCL), the inventor of VOIP including the softphone, and YMAX Corp., the creator of magicJack and other products and services have successfully merged and will be traded on the Nasdaq under the symbol (NasdaqGM (Global Markets): CALL). VocalTec stock will seize to be trading using the symbol (NasdaqCM:VOCL) after close of business today July, 16th 2010. It will commence trading using the symbol (Nasdaq: CALL) on Monday, July 19th, 2010. The parties believe that the combined company has an enterprise value of $245 million and a per share value of at least $17.50 on Monday, July 19th, 2010 on a stock split adjusted basis. The previous holders of VocalTec will have 1,173,294 shares of common stock following the merger. VocalTec expects to have revenues ranging from $110 million to $125 million this year. With over $40 million cash/securities on hand and no debt, VocalTec expects to show a profit in the current quarter. For additional information on this announcement we recommend that investors read the entire press release and the VocalTec (Nasdaq: VOCL) press release describing the stock split and review the form 6-K filing with the Securities and Exchange Commission that we expect to be filed on or before Monday, July 19th, 2010, described below.

The combined companies have the use of over 30 patents, some dating to when VocalTec invented VOIP. In the current legal world we live in, this protection is crucial. The company believes that its patents, technology, and inventions are prior art to other existing patents and may also expose patent invalidity. The combination of patents and softphone/softswitch technology were the primary drivers of the merger. The combined company is much stronger now.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,533.76 -29.54 -0.18%
S&P 500 1,933.38 +2.71 0.14%
NASDAQ 4,368.28 -1.4930 -0.03%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs