AudioCodes Ltd. (NasdaqGS:AUDC) acquired Callverso ltd on November 10, 2021. The consideration for this transaction will consist of cash plus an earn-out arrangement based on attaining certain sales targets over the next three years. Following the transaction, Callverso became a wholly owned subsidiary of AudioCodes.

AudioCodes Ltd. (NasdaqGS:AUDC) completed the acquisition of Callverso ltd for $11 million on November 10, 2021. The $3 million purchase price for the acquisition was composed of the following amounts: (i) a $2.9 million payment in cash payable on the Closing Date, of which $0.3 million was deposited in escrow for a period of 12 months following the Closing Date; and (ii) $0.1 million retained as security for any liabilities of Callverso as of the Closing, which was paid in January 2022. As part of the agreement, Company also agreed to pay maximum earn-out amount of $6 million to be paid over three years as follow: (i) up to $2 million payable on January 31, 2023 ,based on sales in 2022; (ii) up to $2 million is payable on January 31, 2024, based on sales in 2023; and (iii) up to $2 million is payable on January 31, 2025 , based on sales in 2024. In addition, the Company is required to pay an aggregate of $1 million after 12 months and an additional aggregate of $1 million after 24 months following the Closing Date to former shareholders of Callverso.