FTS Buys ViziqorFTS Buys Viziqor

Formula Telecom Solutions has completed the acquisition of US based Viziqor

December 7, 2005

2 Min Read

HERZLIYA, Israel -- Formula Telecom Solutions, Ltd. (LSE: FTS - News), a leading global provider of Billing and CRM solutions for service and content providers and the telecom industry, today announced it has completed the acquisition of US based Viziqor Solutions Inc. ("Viziqor"), a privately-held, leading provider of billing and business support systems (BSS). In 2004, Viziqor merged the operations of Daleen Technologies, Inc. and Protek Telecommunications Solutions Limited. For the nine month period ended September 30th, 2005 Viziqor generated US$ 11 million in revenues.

The acquisition positions FTS as a leading provider of billing and BSS solutions in the North American market. Viziqor's products, some of which are specifically intended for the US market, will complement FTS industry leading portfolio of solutions. Targeted at communication providers as well as next generation service and content providers, Viziqor's products allow improved efficiency of core business operations while driving maximum value from advanced networks and services. Its offerings include advanced billing platforms for service and content providers as well as revenue assurance and mediation applications.

"Over the last 18 months we have taken meaningful steps to build and strengthen our US presence," said Amos Sivan, Founder and CEO of Formula Telecom Solutions. "Acquiring Viziqor, with their well known and highly regarded products, as well as their experienced team of professionals, will be instrumental as we help this market deliver on the promise of next generation services and content."

"Formula Telecom Solutions has demonstrated a strong leadership position in EMEA and is a thought leader in billing and CRM," said Paul Hughes, Vice President, Communications Software Strategies with the Yankee Group. "Formula's acquisition of Viziqor strengthens the company's product portfolio expansion with minimal technology overlap, and more importantly, gives the organisation a strong North American presence and an enviable customer base that includes Tier 1 and Tier 2 service providers and next generation content and media providers."

Viziqor is headquartered in Boca Raton, Florida and has regional offices across North and South America, Europe and Africa. Their extensive base of customers and partners in more than 40 countries worldwide includes traditional voice service providers as well as the most advanced and innovative content providers in the digital media service and content market.

"Viziqor partnered with an impressive line-up of marquee customers," added Sivan. "We are committed to continue supporting Viziqor's worldwide customer base with their current solutions, ensuring their smooth operations as well as providing them with solutions required to serve their future needs."

Formula Telecom Solutions Ltd. (FTS)

Viziqor Solutions

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