Oracle Buys eServGlobal Products

eServGlobal announced the sale of its Universal Services Platform business to Oracle

May 26, 2010

2 Min Read

PARIS -- eServGlobal Limited (LSE: ESG & ASX: ESV), a provider of smarter transaction management solutions, today announced the sale of its USP (Universal Services Platform) business to Oracle.

Oracle and eServGlobal have entered into a definitive agreement under which Oracle will purchase ownership of eServGlobal's USP assets, which includes a pre-paid charging application, a network-services platform and a messaging gateway, currently supporting more than 25 tier-one customers including the world's largest IT-based installation of pre-paid services. The Board of Directors of eServGlobal has unanimously approved the transfer of the USP products which include ChargingMax, NumberMax, uVOMS, MessageMax, PromoMax Express, UMS and Social Relationship Management to Oracle.

eServGlobal's major shareholder, Guinness Peat Group (holding approximately 19% of the issued share capital of eServGlobal) has entered into an agreement with Oracle under which it agrees to vote its shares in favour of the transaction. In addition, MHB Holdings Pty Ltd, Wallaby Hill Pty Ltd and Craig Halliday (representing approximately 20% of eServGlobal's issued share capital in aggregate) are supportive of the transaction and have confirmed in writing to eServGlobal that in the absence of a superior proposal from a third party, they intend to vote their shares in favour of the resolution to approve the transfer.

"Oracle and eServGlobal have been industry pioneers for more than 20 years. This deal represents a strategic move for both companies. eServGlobal will focus its technology and resources on the m-Money and Value Added Services businesses and in expanding our Software as a Service (SaaS) delivery and licensing models to take advantage of this high growth opportunity," said eServGlobal CEO Richard Mathews. "By purchasing the charging product line and all USP-based products, Oracle has acquired leading technology that supports one of the largest installed charging bases in the world and provides our customers with cost-efficient routing of international calls, SMS and multi-media messages using a combination of TDM and SIP networks."

eServGlobal Ltd. (London: ESG: ASX: ESV)

Oracle Corp. (Nasdaq: ORCL)

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