WeDo Acquires Connectiv Solutions
LISBON -- WeDo Technologies, a leader in revenue and business assurance solutions, today announced the acquisition of US-based Connectiv Solutions, which provides management of telecommunications network usage expenses. The deal will strengthen WeDo Technologies’ presence in North America; bringing a huge boost to the company’s geographical strategy and further cement the company’s global leadership position in revenue and business assurance.
The deal delivers strong synergies to both organisations, with complimentary market offers and expertise. Connectiv Solutions assists wireless and wireline carriers to maximize the efficiency of their networks; enabling them to simplify vast and complex data streams and identify cost saving opportunities. It delivers these services through four major business segments; traffic management, interconnect management, revenue assurance and managed services. With no customer overlap, the deal brings very strong upselling and cross selling opportunities of both companies’ market offers. Connectiv Solutions has more than 10 customers in USA and 4 out of the top 10 Wireless operators in the country are Connectiv Solutions’ customers.
According to analyst firm Gartner, the North American market is the second biggest in the world in external spending on revenue assurance and fraud management and is the biggest in the world in internal spending. Having a trusted local presence like Connectiv Solutions on board, with revenues close to $8 million and a headcount of 35 people for FY2011, will provide a solid foundation for WeDo Technologies to build upon within North America. A stronger US presence will also enable the company to gain an additional source of knowledge and innovation to continue providing existing and future customers with the best possible service.