Monday, 14 July 2008

Codima Plans Vector Telecom Takeover

Codima, a global provider of best practice software tools for VoIP and IT Asset Management, recently made its intension clear towards purchasing Network Management technology from Vector Telecom, a software developer specializing in network management product development.

According to Codima, Vector Telecom has successfully developed a highly technical solution using advanced statistical methods. The company has created a network intelligence technology that is easy to use and can be running in minutes, thereby bringing unique values to the end user.

“Codima is a front runner in bringing highly innovative, cost efficient and user friendly products to the market. We constantly look for new functions that help improve the Quality of Service of our customer’s IT network performance. ” said Christer Mattsson, CEO of Codima Inc. “Today organizations worldwide fully depend on IT networks for their business operations and we see the demand for network intelligence products escalating.”

Through this acquisition, Codima will enter into the growing market for comprehensive network performance products. The new software is expected to substantially extend the Codima Toolbox to become one of the most complete product offerings in the network management arena.

Terms of the deal were not disclosed by either of the companies. However, the acquisition is expected to close by the end of August 2008.