GlobeNewswire·Nov 10, 2026, 10:07 AM ET

MIND CTI to be Acquired by Enghouse Systems in All-Cash Transaction

MNDO

MIND C.T.I. Ltd. announced a merger agreement to be acquired by Enghouse Systems Ltd. for $1.30 per share in cash, totaling approximately $25.4 million.
The acquisition price represents a 42% premium over MIND CTI's weighted average closing price of $0.92 per share over the preceding 30 trading days.
MIND CTI will become a wholly owned subsidiary of Enghouse following the merger, which is expected to close in the first quarter of 2027.
The transaction is subject to shareholder approval & customary closing conditions, with no financing conditions required for Enghouse.
Interim CEO Monica Iancu has entered a voting agreement to support the merger, though MIND CTI may solicit alternative proposals until December 10, 2026.
MIND CTI reported Q3 2026 revenues of $4.4 million, down from $4.8 million in Q3 2025.
The company recorded an operating loss of $2.8 million for Q3 2026, primarily due to a $3.8 million non-cash goodwill impairment charge.
Net loss for Q3 2026 was $2.9 million ($0.15 per share), compared to net income of $0.7 million ($0.03 per share) in Q3 2025.
Cash flow from operating activities for Q3 2026 was $0.7 million, with a cash position of $13.7 million as of September 30, 2026.
For the nine months ended September 30, 2026, revenues were $14.1 million, while the company reported a net loss of $1.2 million.
Europe accounted for 56% of Q3 2026 revenues, with Customer care & billing software representing 51% of total revenue.
The share repurchase plan authorized in November 2025 was suspended as of September 22, 2026, after purchasing 1,038 thousand shares.
Orly Sorokin was appointed as the new Chief Executive Officer, effective November 17, 2026.
Monica Iancu will step down as Interim CEO to continue serving as Chairperson of the Board of Directors.

Company: MIND CTI Ltd.
Keywords: Nasdaq:MNDO, MIND CTI Ltd.