Deltathree changing hands

If we're reading the SEC 8-K filing correctly, it looks like deltathree's saga is over. In an SEC filing earlier this week, the company announced it was selling a majority stake of 54.3 percent of the company to D4 Holdings for $1.17 million in cash; D4 happens to be a private investment fund whose owners just happen to include the owners of privately held ACN.

Under the agreement D4 also has the right to pick up an additional 30 million shares at 4 cents a share for the next ten years. The deal is expected to close by Feb. 10. Once it does, some new board members will be elected.

The filing doesn't indicate the ultimate intent of D4 and ACN's leadership. Will it continue to run deltathree as an independent company? Use deltathree's status as a public traded company for a reverse takeover to turn ACN into a public company?

ACN is a large international direct seller of telecommunications services, targeting consumers and small businesses around the world. The company's website boasts of half billion dollar revenues with annual double-digit growth year after year.

For more:
- Read the YahooBusiness filing here.

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