MIND CTI to be Acquired by Enghouse Systems in All-Cash Transaction
Key Highlights
- ➤Enghouse to acquire MIND CTI (MNDO) for $1.30 per share in cash
- ➤$25.4 million deal value represents a 42% premium to MIND’s 30-day average
- ➤Merger expected to close in Q1 2027, subject to shareholder approval
- ➤Q3 revenue $4.4 million, down from $4.8 million year over year
- ➤Q3 net loss $2.9 million, including a $3.8 million goodwill impairment charge
Expert Statements
Monica Iancu, Interim CEO of MIND CTI
“The MIND CTI Board unanimously approved this transaction because we believe it is in the best interests of our shareholders. Given our size and the increasing costs and burdens associated with being a public company, we see limited benefit in remaining public. This transaction delivers compelling value to our shareholders while positioning the business for continued success.”
Monica Iancu, Chair of the Board of Directors of MIND CTI
“We are pleased to announce Orly's appointment as Chief Executive Officer. Having worked with Orly over the years, I believe her experience, knowledge of the Company and understanding of our industry make her well suited to lead MIND in its next chapter.”
Orly Sorokin, CEO of MIND CTI
“I appreciate the Board's confidence in appointing me as CEO. MIND has been an important part of my professional career, and I am pleased to have the opportunity to lead the Company. I look forward to taking on this responsibility and working with our team as we move ahead.”
YOQNEAM, Israel, Nov. 10, 2026 (GLOBE NEWSWIRE) -- MIND C.T.I. LTD (NasdaqGM:MNDO), a leading provider of convergent end-to-end prepaid/postpaid billing and customer care product-based solutions for service providers, unified communications (UC) analytics for enterprises as well as enterprise messaging solutions, today announced: * The execution of a merger agreement by which Enghouse Systems Ltd. (TSX: ENGH) (“Enghouse”), a leading global provider of enterprise software solutions serving select enterprise vertical markets, will acquire MIND CTI. * Its financial results for the third quarter ended September 30, 2026. * Appointment of Orly Sorokin as new CEO. Merger Agreement
Under the terms of the agreement, which has been approved unanimously by the boards of directors of both companies, Enghouse will acquire all outstanding shares of MIND CTI for US$1.30 per share in cash, for a total equity value of approximately US$25.4 million. The purchase price of US$1.30 per share represents a premium of approximately 42% over the weighted average closing price of US$0.92 per share for MIND CTI ordinary shares during the preceding 30 trading days.
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