Argent Signs Agreement With Redknee Solutions
Argent Networks Ltd. Signs Acquisition Agreement With Redknee Solutions
Acquisition to Bring ArgentEclipse Interconnect Billing and ArgentEclipse Converged Rating and Billing Products into Redknee's Innovative Product Portfolio
Argent Networks Ltd., a leading technology and telecommunications billing company, announced today that it will be acquired by Redknee Solutions Inc. (AIM: RKN), a leading provider of innovative infrastructure software that monetizes and personalizes services and content for mobile operators. Redknee, based in Toronto, Canada will acquire all the assets of the company including the ArgentEclipse(TM) real time convergent rating and billing product and ArgentEclipse(TM) Interconnect billing platform.
Redknee has signed a definitive agreement to acquire the assets of Argent Networks Ltd, a privately held provider of advanced billing solutions deployed by leading operators throughout Asia Pacific, North America and Africa, subject to the approval of Argent Networks stockholders and other customary closing conditions, which are expected to be completed in January 2008. Following the acquisition, Argent's customers and employees will be integrated into Redknee's existing business, leveraging Argent's customer base, partner network and employees.
"The entire Argent Networks team is excited to become a part of the Redknee organization," said Grant McGough, CEO of Argent Networks. "There is great synergy between our products and people, and our market presence in Asia Pacific and Africa is very complementary to Redknee's future growth strategy. They bring a world-class product line and unmistakable leadership in mobile infrastructure solutions. As part of Redknee, we will bring even more pioneering products to the market to help operators accelerate their revenue objectives."
"We are excited about the prospect of expanding our global reach in key target markets while expanding our customer base for our billing solutions," said Lucas Skoczkowski, CEO of Redknee "Argent has demonstrated leadership in interconnect and content settlement and converged billing for triple and quad play. We believe that this acquisition will enable us to deliver more value to new and existing customers."
About Argent Networks Ltd
Argent Networks provides interconnect billing and content settlement and real-time mediation, rating, billing and customer care solutions for prepaid and postpaid voice, data and content. Argent's products enable communications service providers to provision, rate and bill and settle for any service on any network. Argent's customers include the world's largest communication providers, servicing and billing millions of subscribers in over 25 countries across the globe. For more information, visit www.argentnetworks.com.
Redknee is a leading global provider of innovative communication software products, solutions and services. Redknee's award-winning solutions enable operators to monetize the lifetime 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 50 network operators in over 40 countries. Established in 1999, Redknee Solutions Inc.(RKN : AIM) is the parent of the wholly-owned operating subsidiary Redknee Inc. and its various subsidiaries. References to Redknee refer to the combined operations of those entities. For more information, visit http://www.redknee.com.