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CSG Systems Agrees to Acquire ComTec

CSG Systems International Inc., a provider of customer care and billing services, revealed Monday that it has agreed to pay $23.5 million in cash for ComTec Inc., a privately held firm that handles print and electronic statement processing. CSG said the transaction is expected to close in early July. CSG also said that it will make additional payments of up to $2.5 million over the next year if certain criteria are met. Based in Fairfield, N.J., ComTec employs more than 100 people and processes some 10 million billing statements each month. CSG Systems International is headquartered in Englewood, Colorado.