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Freshtel brings R&D in-house
Stuart Corner
Monday, 21 November 2005 16:17
Freshtel CEO, Michael Carew, said: "The outsource arrangement we had with Teragen has suited us well to date...[but] we have outgrown the need for that arrangement and we are now better served by having the complete resources of the R&D team in-house. The acquisition ensures that Teragen's VoIP expertise is captured directly by us and will continuously improve our VoIP solutions."
The Teragen R&D team - which was responsible for the development of Freshtel's end-to-end VoIP technology - will continue to develop and enhance Freshtel's products and will also work to implement and commercially launch the company's "white label" products in the global marketplace.
The purchase price of $0.3m includes equipment and the assumption of employee liabilities. Teragen International's VoIP arm has 12 employees. Teragen's managing director, Sebastian Filzek, is the sole shareholder in Teragen through his company Gluaff Investments Pty Ltd. He is also a director of Freshtel but the company says he did not participate in its Board's deliberations about the purchase.
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