Bloomberg said on Sunday that Ober Technologies will announce plans this week to acquire its competitor, Karim Networks, based in Dubai.
According to the terms of the terms Bloomberg said it had seen, Ober would pay $ 1.4 billion in cash and $ 1.7 billion in convertible securities at Ober at a price of $ 55 per share.
Karim declined to comment, while Ober did not respond to Reuters's request for comment.
Ober is preparing for an initial public offering, and the bankers who manage the offering have suggested that the value of the company could reach $ 120 billion.