A Canadian company has acquired Indianapolis-based CTI Group Holdings Inc. Enghouse Systems Ltd.’s deal for the customer service industry software provider is valued at nearly $23 million.
Enghouse says the offer for all CTI shares is expected to be complete in early January. Enghouse is traded on the Toronto Stock Exchange under the "ESL" symbol and has contact center, networks and transportation sectors serving global clients. It focuses on growing its business through acquisitions.
CTI’s board of directors own nearly three-quarters of the company’s outstanding common stock and will tender all shares as part of the agreement.
In March, CTI named Manfred Hanuschek chief executive officer and Nathan Habegger chief financial officer. Hanuschek succeeded John Birbeck, who retired as CEO of the company.