CSG Systems to Pay $15M in Cash for Quaero

Colorado-based CSG Systems International Inc., a provider of billing and customer relationship management software and related services, announced Monday that it has agreed to acquire Quaero Corp., a marketing services provider headquartered in Charlotte, N.C. According to CSG, it will pay some $15 million in cash for Quaero upon closing, which is expected to occur by the end of the year. Additionally, CSG said it could pay up to $9.5 million in contingent payments over the next two years if certain performance criteria are met. Quaero was founded in 1999. CSG Systems is based in the Denver suburb of Englewood, Colo.