Israel's Tdsoft Agrees to Reverse Merger with VocalTec

Tel Aviv -- Tdsoft Ltd., an Israel-based provider of Internet-telephony
gateways, has agreed to a reverse merger with VocalTec
Communications Ltd., an Israel-based telecommunications equipment
provider. Under terms of the deal, Tdsoft shareholders will be issued
VocalTec shares in exchange for all of the share capital of Tdsoft.
Tdsoft shareholders will own 75% of the outstanding share capital of
VocalTec, with VocalTec shareholders controlling the remaining 25%.
VocalTec will remain a publicly held company, while Tdsoft will
become its wholly owned subsidiary. The companies said they
expected to complete deal in early December, pending shareholder and
regulatory approval.
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