Sponsored By

Comverse Acquires Netonomy

Comverse acquires customer service and billing provider Netonomy for $19M

August 23, 2006

1 Min Read

NEW YORK -- Comverse, a subsidiary of Comverse Technology, Inc. (NASDAQ: CMVT), and the world's leading supplier of software and systems enabling network-based multimedia enhanced communication and billing services, today announced that it has signed a definitive agreement to acquire privately-held Netonomy for approximately $19 million in cash.

Netonomy, a leader in customer self-service, bill analysis and point of sale (POS) solutions, extends Comverse's portfolio of real-time billing and customer management solutions for communication service providers by adding additional tools to increase efficiency and enhance the end-customer experience. Netonomy's self-service application suite allows consumers, enterprises, and retailers to activate and manage subscriptions, buy new products and services, and review, analyze and pay bills using virtually any communication device. Netonomy customers include Bouygues Telecom, several Orange operators, T-Mobile UK, Telstra and Vodafone UK.

Raz Alon, interim CEO of Comverse Technology, said, "This acquisition is in line with our strategic efforts to continually enhance Comverse's Total Communication Product Portfolio's ability to generate revenues, strengthen customer loyalty and improve operational efficiency for communication service providers."

"Following integration of Kenan(R) Billing solutions, this latest addition of Netonomy better positions Comverse to provide converged billing solutions enabling superior choice, convenience and control," said Zeev Bregman, CEO of Comverse, Inc. "Our customers benefit from field-proven and scalable technology, short time to market, and an extensive, modular designed product feature set."

"Joining Comverse was a natural move," said John Ball, CEO of Netonomy. "Service providers need to accelerate the adoption of direct self-service quicker than ever to lower their cost of acquisition and service, regardless of market segment. Web access to select and change plans and features also improves customer satisfaction and loyalty, while reducing operational costs."

Comverse Inc. (Nasdaq: CNSI)

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like