MIND C.T.I. Agrees To Be Acquired By Enghouse Systems For $1.30 Per Share In Cash; Appoints Orly Sorokin CEO, Effective Nov. 17

MIND C.T.I. LTD (NasdaqGM:MNDO), a leading provider of convergent end-to-end prepaid/postpaid billing and customer care product-based solutions for service providers, unified communications (UC) analytics for enterprises as well as enterprise messaging solutions, today announced:

• The execution of a merger agreement by which Enghouse Systems Ltd. (TSX:ENGH) ("Enghouse"), a leading global provider of enterprise software solutions serving select enterprise vertical markets, will acquire MIND CTI.
• Under the terms of the agreement, which has been approved unanimously by the boards of directors of both companies, Enghouse will acquire all outstanding shares of MIND CTI for US$1.30 per share in cash, for a total equity value of approximately US$25.4 million. The purchase price of US$1.30 per share represents a premium of approximately 42% over the weighted average closing price of US$0.92 per share for MIND CTI ordinary shares during the preceding 30 trading days.