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Redknee to Acquire Nimbus Systems
TORONTO, July 30, 2010--
- Strategic Acquisition Will Expand Redknee's Footprint With Mobile
Tier 1 & Global Group Operators in Europe
Redknee Solutions Inc. (TSX:RKN) ("Redknee"), a leading provider of
business-critical software and services for communications service
providers, including end-to-end converged billing, real-time charging,
rating and personalization, today announced it intends to acquire
privately-held Spanish-based Nimbus Systems, S.L. under an agreement between
Redknee and Nimbus Systems. The acquisition is expected to close before
September 30, 2010, subject to certain terms and conditions being met.
The acquisition of Nimbus Systems will further strengthen Redknee's
operating model and market share, particularly in global group operators,
including Telefonica, Orange and Vodafone, while providing future
opportunities to expand into the Latin American markets.
Established in 2001, Nimbus Systems has been engaged in analysis,
control and management solutions, with a particular focus on customer
relationship management systems and billing, rating and partner relationship
management. Nimbus Systems currently supports more than 10 customers,
including group operators Telefonica and Telia Sonera, and
non-telecommunications clients, such as Santander, Spain's largest bank,
and First Data, one of the world's leading transaction credit and loyalty
card infrastructure companies. Following the acquisition, Nimbus Systems'
customers and employees will be integrated into Redknee's existing business
with a view to leveraging Nimbus Systems' customer base, partner network
and employees. The two co-founders of Nimbus Systems will assume leadership
roles in business line management with Redknee.
"We are pleased to announce this important milestone in the execution of
Redknee's growth strategy. The acquisition of Nimbus Systems meets all of
our key acquisition criteria: increasing our access to customers; adding
skilled employees in key areas to support our growth; and expanding our
existing product lines with complementary offerings in post-paid billing,
billing tools and customer experience management," commented Lucas
Skoczkowski, Redknee's CEO. "The market, product and cultural synergies
between the two companies will elevate our capabilities and market presence
to better serve our customers, create cross selling opportunities for
joint product and service portfolio, while positioning us to engage and win
new customers."
Joao Gonçalves and Jose Martull, co-founders of Nimbus Systems commented:
"We are very excited to join Redknee. Redknee's global presence, strong
reputation in the real-time billing space and its commitment to its
customers make it an ideal combination to extend the power of next
generation customer care and billing. Our shared vision of bringing together
network and business intelligence will give service providers unrivalled
next generation billing, settlement and customer experience management
solutions to drive revenue and maximize their investments."
Nimbus Systems is headquartered in Madrid, Spain with offices in Lisbon,
Portugal. To complete the acquisition, and subject to certain terms and
conditions contained in the purchase agreement, Redknee will acquire all of
Nimbus Systems' issued and outstanding shares and will pay approximately
(euro)11,250,000 consisting of cash in the approximate amount of
(euro)7,000,000 and the balance in common shares of Redknee.
About REDKNEE
Redknee is a leading global provider of innovative communication software
products, solutions and services. Redknee's award-winning solutions enable
operators to monetize the value of each subscriber transaction while
personalizing the subscriber experience to meet mainstream, niche and
individual market segment requirements. Redknee's revenue generating
solutions provide advanced converged billing, rating, charging and policy
for voice, messaging and new generation data services to over 70 network
operators in over 50 countries. References to Redknee refer to the combined
operations of the parent Redknee Solutions Inc, and all wholly owned
subsidiaries.
Redknee(R), Redknee Solutions, and the Redknee logo are trademarks or
registered trademarks of Redknee Solutions Inc. All other company, product
names and any registered and unregistered trademarks mentioned (if any) are
used for identification purposes only and remain the exclusive property of
their respective owners.
For more information, visit http://www.redknee.com.
FORWARD-LOOKING STATEMENTS
Certain statements in this release relating to the Acquisition and other
statements may constitute "forward-looking" statements which involve known
and unknown risks, uncertainties and other factors which may cause our actual
results, performance or achievements, or industry results, to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. When used in this document, such
statements use such words as "may", "will", "expect", "continue", "believe",
"plan", "intend", "would", "could", "should", "anticipate" and other similar
terminology. These statements reflect current assumptions and expectations
regarding future events and operating performance and speak only as of the
date of this document. Forward-looking statements involve significant risks
and uncertainties, should not be read as guarantees of future performance or
results, and will not necessarily be accurate indications of whether or not
such results will be achieved. A number of factors could cause actual
results to vary significantly from the results discussed in the
forward-looking statements, including, but not limited to, the failure of
the parties to meet certain terms and conditions relating to the Acquisition
and the factors discussed under the "Risk Factors" section of Redknee's most
recently filed Annual Information Form which is available on SEDAR at
http://www.sedar.com and on Redknee's web-site at http://www.redknee.com.
Although the forward-looking statements contained in this document are
based upon what we believe are reasonable assumptions, we cannot assure
investors that our actual results will be consistent with these
forward-looking statements. We assume no obligation to update or revise these
forward-looking statements to reflect new events or circumstances, except as
required by securities law.
For further information: Redknee Solutions Inc., Lucas Skoczkowski, Chief
Executive Officer, David Charron, Chief Financial Officer,
Tel: +1-905-625-2622, Fax: +1-905-625-2773
Source: Redknee Solutions Inc.
For further information: Redknee Solutions Inc., Lucas Skoczkowski, Chief Executive Officer, David Charron, Chief Financial Officer, Tel: +1-905-625-2622, Fax: +1-905-625-2773
Redknee to Acquire Nimbus Systems
TORONTO, July 30, 2010--
- Strategic Acquisition Will Expand Redknee's Footprint With Mobile
Tier 1 & Global Group Operators in Europe
Redknee Solutions Inc. (TSX:RKN) ("Redknee"), a leading provider of
business-critical software and services for communications service
providers, including end-to-end converged billing, real-time charging,
rating and personalization, today announced it intends to acquire
privately-held Spanish-based Nimbus Systems, S.L. under an agreement between
Redknee and Nimbus Systems. The acquisition is expected to close before
September 30, 2010, subject to certain terms and conditions being met.
The acquisition of Nimbus Systems will further strengthen Redknee's
operating model and market share, particularly in global group operators,
including Telefonica, Orange and Vodafone, while providing future
opportunities to expand into the Latin American markets.
Established in 2001, Nimbus Systems has been engaged in analysis,
control and management solutions, with a particular focus on customer
relationship management systems and billing, rating and partner relationship
management. Nimbus Systems currently supports more than 10 customers,
including group operators Telefonica and Telia Sonera, and
non-telecommunications clients, such as Santander, Spain's largest bank,
and First Data, one of the world's leading transaction credit and loyalty
card infrastructure companies. Following the acquisition, Nimbus Systems'
customers and employees will be integrated into Redknee's existing business
with a view to leveraging Nimbus Systems' customer base, partner network
and employees. The two co-founders of Nimbus Systems will assume leadership
roles in business line management with Redknee.
"We are pleased to announce this important milestone in the execution of
Redknee's growth strategy. The acquisition of Nimbus Systems meets all of
our key acquisition criteria: increasing our access to customers; adding
skilled employees in key areas to support our growth; and expanding our
existing product lines with complementary offerings in post-paid billing,
billing tools and customer experience management," commented Lucas
Skoczkowski, Redknee's CEO. "The market, product and cultural synergies
between the two companies will elevate our capabilities and market presence
to better serve our customers, create cross selling opportunities for
joint product and service portfolio, while positioning us to engage and win
new customers."
Joao Gonçalves and Jose Martull, co-founders of Nimbus Systems commented:
"We are very excited to join Redknee. Redknee's global presence, strong
reputation in the real-time billing space and its commitment to its
customers make it an ideal combination to extend the power of next
generation customer care and billing. Our shared vision of bringing together
network and business intelligence will give service providers unrivalled
next generation billing, settlement and customer experience management
solutions to drive revenue and maximize their investments."
Nimbus Systems is headquartered in Madrid, Spain with offices in Lisbon,
Portugal. To complete the acquisition, and subject to certain terms and
conditions contained in the purchase agreement, Redknee will acquire all of
Nimbus Systems' issued and outstanding shares and will pay approximately
(euro)11,250,000 consisting of cash in the approximate amount of
(euro)7,000,000 and the balance in common shares of Redknee.
About REDKNEE
Redknee is a leading global provider of innovative communication software
products, solutions and services. Redknee's award-winning solutions enable
operators to monetize the value of each subscriber transaction while
personalizing the subscriber experience to meet mainstream, niche and
individual market segment requirements. Redknee's revenue generating
solutions provide advanced converged billing, rating, charging and policy
for voice, messaging and new generation data services to over 70 network
operators in over 50 countries. References to Redknee refer to the combined
operations of the parent Redknee Solutions Inc, and all wholly owned
subsidiaries.
Redknee(R), Redknee Solutions, and the Redknee logo are trademarks or
registered trademarks of Redknee Solutions Inc. All other company, product
names and any registered and unregistered trademarks mentioned (if any) are
used for identification purposes only and remain the exclusive property of
their respective owners.
For more information, visit http://www.redknee.com.
FORWARD-LOOKING STATEMENTS
Certain statements in this release relating to the Acquisition and other
statements may constitute "forward-looking" statements which involve known
and unknown risks, uncertainties and other factors which may cause our actual
results, performance or achievements, or industry results, to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. When used in this document, such
statements use such words as "may", "will", "expect", "continue", "believe",
"plan", "intend", "would", "could", "should", "anticipate" and other similar
terminology. These statements reflect current assumptions and expectations
regarding future events and operating performance and speak only as of the
date of this document. Forward-looking statements involve significant risks
and uncertainties, should not be read as guarantees of future performance or
results, and will not necessarily be accurate indications of whether or not
such results will be achieved. A number of factors could cause actual
results to vary significantly from the results discussed in the
forward-looking statements, including, but not limited to, the failure of
the parties to meet certain terms and conditions relating to the Acquisition
and the factors discussed under the "Risk Factors" section of Redknee's most
recently filed Annual Information Form which is available on SEDAR at
http://www.sedar.com and on Redknee's web-site at http://www.redknee.com.
Although the forward-looking statements contained in this document are
based upon what we believe are reasonable assumptions, we cannot assure
investors that our actual results will be consistent with these
forward-looking statements. We assume no obligation to update or revise these
forward-looking statements to reflect new events or circumstances, except as
required by securities law.
For further information: Redknee Solutions Inc., Lucas Skoczkowski, Chief
Executive Officer, David Charron, Chief Financial Officer,
Tel: +1-905-625-2622, Fax: +1-905-625-2773
Source: Redknee Solutions Inc.
For further information: Redknee Solutions Inc., Lucas Skoczkowski, Chief Executive Officer, David Charron, Chief Financial Officer, Tel: +1-905-625-2622, Fax: +1-905-625-2773