CTI Acquires Ryder Systems 636621

PARIS -- CTI Group (Holdings) Inc, an international provider of electronic and on-line billing solutions and developer of VoIP business applications, announced that it has acquired Ryder Systems Ltd for approximately $11.0 million.

Ryder Systems Ltd, located in Blackburn, UK, is a European market leader in the provision of electronic and on-line billing services to telecommunications service providers principally in the mobile phone market.

Ryder's products: Analysis, SplitBill and Dynamic Reports are provided to blue-chip mobile phone service providers, including Vodafone, Orange, T-Mobile, Verizon, eircom and Opal Telecoms in 6 countries across Europe. They provide business users the capability to manage their mobile and broadband services with the benefit of considerable cost savings to business users and service providers as well as increased customer retention for the latter. Ryder's products are provided as hosted, licensed and managed solutions with a recurring license business model. Since addressing this market in 2000, Ryder Systems has experienced annual revenue growth rates of greater than 20%. European legislation requiring businesses to accurately differentiate personal and business mobile use for tax purposes ensures a compelling business case to incorporate Ryder solutions in every enterprise business workflow. Ryder Systems' products are used by over 10,000 enterprises including most of the Times 100.

CTI Group (Holdings) Inc.