Rob Powell did some excellent reporting on this merger HERE.
YMAX owns Stratus Telecommunications, which is a VoIP softswitch platform with OSS built-in. Stratus powers MagicJack, which YMAX also owns. So Vocaltec just merged with MagicJack.
Here's the scary part: "VocalTec expects to have revenues ranging from $110 million to $125 million this year. With over $40 million cash/securities on hand and no debt." WOW! How many other VoIP companies can say that? Not very many (as he counts on his fingers).
The corrected press release was interesting as it tries to spell out why the company should have a market cap of $245M.