May 1, 2009
Maynard Software Co. Bought For $22.8M
A Burlington company has acquired Maynard telephone software provider Convergence Inc. for about $22.8 million.
The buyer, Acme Packet Inc., said the acquisition will allow it to serve small and remote businesses more effectively.
Three Convergence executives, Founder and CEO Ken Kuenzel, Product Management VP Jim Donovan and Sales and Business Development VP Marty Falaro, will join Acme in management positions. The core Convergence team will relocate to Burlington.
Stockholders of Convergence will receive about $22.2 million of Acme stock and $600,000 in cash and tax withholding payments.
WBJ Web Partners
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