Vodavi
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Vodavi was founded in 1983 with the vision that the convergence of voice, data and video would become integral to effective business communications. Vodavi is a manufacturer of PBX and other office-style telephones for commercial and business use. Vodavi Technology Corporation--a $73 million Arizona-based designer and seller of telecommunications equipment founded by Steven Sherman in 1983--and Isotec Communications Incorporated--a newly public $101 million Connecticut-based designer, manufacturer, and marketer of microprocessor-based communications systems for small businesses--joined forces in December 1987 to purchase Executone for a reported $60 million. Under the terms of the agreement, Vodavi and Isotec each acquired 50 percent of Executone with the intention to merge their respective businesses in mid-1988. On July 7, 1988, the shareholders of both Isotec and Vodavi approved the reorganization and merger of Isotec with and into Vodavi. In October 2006, Vodavi board members agreed to be acquired by Vertical Communications of Cambridge, Massachusetts, pending shareholder approval.
CAMBRIDGE, Mass. (December 1, 2006) -- Vertical Communications (VRCC.OB)(“Vertical”), a leading provider of next-generation, IP-based phone systems and applications that help businesses better serve their customers, announced today the completion of its acquisition of Phoenix, Arizona-based Vodavi Technology, Inc. (NASDAQ:VTEK) (“Vodavi”) for $7.50 per share, or approximately $31.1 million in the aggregate.
Vodavi was often confused for vizzavi, which is a service from Vodafone that was renamed Vodafone Live!
