Novacap has entered into a definitive agreement to acquire Dialogic (OTCQB: DLGC), a communications solutions provider, for a total cash consideration of $35.3 million. The Dialogic Board has approved a deal that would involve a tender offer within 10 business days for all outstanding shares of the company’s common stock at $0.15 per share. The proceeds would be split among Dialogic stockholders, which include Tennenbaum Capital Partners. Expected to close in 4Q, the transaction would be made through Novacap TMT IV, a $375 million fund focused on technology, media and telecommunications. The firm would control more than 90% of Dialogic’s common stock upon closing.