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Stock Market & Financial Investment News

News Breaks
December 18, 2013
09:15 EDTEONCeOn Communications enters into merger agreement with Inventergy
eOn Communications and Inventergy have announced that they have entered into a merger agreement whereby Inventergy will merge into a wholly-owned subsidiary of eOn. Upon satisfaction of all of the conditions to completing the merger, eOn Communications will be renamed Inventergy Global. Upon completion of the merger, Inventergy stockholders will receive shares of eOn stock, such that the Inventergy stockholders in the aggregate will control eOn after the merger. eOn also announced that it has entered into an agreement to sell $2.75M of its preferred stock in a private placement to certain accredited investors. The use of proceeds from this offering is restricted until certain conditions are met, including proceeding with the proposed merger transaction with Inventergy. Completion of the merger is subject to a number of conditions, including eOn stockholder approval.
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