Convergys Acquires Telesens

CINCINNATI -- Convergys Corporation (NYSE: CVG), the global leader in integrated billing, employee care, and customer care services, announced today it has purchased the business and assets of TelesensKSCL Limited (TelesensKSCL) of Edinburgh, Scotland, a subsidiary of TelesensKSCL AG of Cologne, Germany, from the receivers. Nick Edwards, Nick Dargan, and John Reid of Deloitte & Touche were appointed receivers on June 26, 2002, by the Royal Bank of Scotland plc, at the request of the Board of Directors of TelesensKSCL. The closing took place on July 3 in Edinburgh. TelesensKSCL developed and licensed billing systems for voice and data services for mobile networks in the global telecommunications industry. More than 19 million people in 30 countries received their telephone bills through TelesensKSCL's billing and customer care applications. The company's clients included three of Vodafone Group plc's (NYSE: VOD) European operations (Ireland, Greece, and Romania), Smartone in Hong Kong, and Finnish mobile operator Radiolinja Oy. The acquisition will also strengthen Convergys' support of two Tier 1 clients it previously shared with TelesensKSCL, mmO2 plc (NYSE: OOM), and Orange France. Convergys will continue to support TelesensKSCL' s products and its existing client base. As a result of the acquisition, Convergys will employ about 230 former TelesensKSCL employees in locations in Scotland and France. "This acquisition is an important development for Convergys as well as for TelesensKSCL's many international communications clients," said Steve Robertson, President of Convergys International. "First of all, this acquisition builds on our publicly stated strategy to accelerate revenue growth and market coverage in billing and customer care internationally. Second, Convergys is a financially stable company and a world leader in billing and customer care. This acquisition brings financial stability and deep operational resources to support TelesensKSCL's clients who faced critical uncertainty about the future of their billing systems with the announcement of TelesensKSCL's insolvency." Convergys Corp.