New Name, Focus, CEO For Framingham Co.
NMS Communications Corp. of Framingham is selling part of its business, changing its name and getting a new CEO.
The company said it is selling its NMS Communications Platforms business to Dialogic Corp. of Canada for $28 million and changing its name to reflect its remaining business.
The company said it plans to focus all its resources on its LiveWire Mobile business, which provides cell phone services. It said it is also in the process of changing its corporate name to LifeWire Mobile Inc.
After the sale closes, the company said Joel Hughes will replace Bob Schechter as CEO. Schechter will continue serving on the board of directors as non-executive chairman. Todd Donahue, the company's vice president of finance, will replace Herbert Shumway as CFO.
NMS said the sale of the communications platform business should close in the fourth quarter of 2008, subject to regulatory and stockholder approvals.
As part its name change, the company said it plans to change its Nasdaq ticker symbol from NMSS to LVWR.
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