CSG Systems International Inc., a provider of billing services to cable-television operators, will buy closely held ComTec Inc. for $23.5 million to add processing plants.
The deal will boost 2007 revenue by about $10 million to $12 million, Englewood-based CSG Systems said today in a statement. The company also may pay an additional $2.5 million in the next year if ComTec achieves certain performance targets.
ComTec processes about 10 million bills a month for U.S. customers, operating from offices in New Jersey and Minnesota.
Those will double CSG’s processing facilities and help CSG expand into industries such as health care and financial services, according to the statement.
Shares of CSG Systems rose 33 cents, or 1.2 percent, to $26.87 on June 8 in Nasdaq Stock Market trading. They’ve advanced less than 1 percent this year.
CSG processes about 53 million statements a month. Spokeswoman Elise Brassell didn’t immediately return a call seeking comment.
ComTec, based in Fairfield, New Jersey, has about 100 employees.
The companies expect the deal to close in July.
