Telecom software firm Subex Systems and revenue assurance company Azure Solutions to merge, becoming Subex Azure Systems

April 25, 2006

2 Min Read

BANGALORE, India -- Subex Systems Limited, the global telecom software product company, and Azure Solutions Limited, the telecoms revenue-assurance company, today announced an agreement to merge the two companies. The new company, to be named Subex Azure Systems Limited, will combine the two companies' industry-leading positions as fraud management and revenue-assurance systems providers and will be headed by Mr. Subash Menon, the current chairman and CEO of Subex Systems. This deal represents a big step in augmenting Subex Azure's strategic business focus of helping telecom operators establish Revenue Operations Centers (ROC) through an integrated suite of solutions.

Subex, founded in 1992, is based in Bangalore, India and has a global presence across North America, Europe and Asia. The company now has the largest installed base of fraud management systems in the world. Subex went public with an IPO in 1999 and today its shares are listed, in India, on the Mumbai, Bangalore and National Stock Exchange and its GDRs are listed on the Luxembourg Stock Exchange.

The merger continues both companies' recent strategy of market consolidation. Acquisitions by Subex include the fraud management assets and technology of Mantas in March 2006, Lightbridge in August 2004 and Alcatel in July 2004. Azure acquired US-based cost and revenue-assurance company, Connexn Technologies, and UK-based telecoms software company Anite Calculus in November 2004.

Subex Azure's global and Asia-Pacific headquarters will be in Bangalore, India while the EMEA and American operations will be based in London, UK and Westminster, Colorado respectively. Subex Azure will count amongst its customers 23 of the world's 40 largest operators, and will boast a customer base of over 150 customer installations in over 60 countries. Tier-one customers include BT, Telenor, Cable & Wireless, Vodafone, Orange, O2, TeliaSonera, Rogers Wireless, T-Mobile USA, Verizon, Bharti Televentures and AT&T. All existing customer and partner agreements will be fully supported.

Subash Menon, chairman and CEO of Subex Systems, said: "Both companies have outstanding people and technology. This merger is great news for operators, as it enables us to further expand our service capabilities, helping them maximize revenues from current and next-generation networks."

John Cronin, president and CEO of Azure Solutions, said: "The revenue-assurance and fraud management markets continue to grow. The merger will enable us to offer a world-class product portfolio to operators worldwide. The new company will be number one in fraud management and revenue assurance, and number two in interconnect and interparty billing. Our existing and future customers will benefit from a broad product portfolio supported over a wider geography."

Subex Ltd.

Azure Solutions Inc.

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