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Redknee Closes Nimbus Buy

Light Reading
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Light Reading
8/12/2010
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TORONTO -- Redknee (TSX:RKN), a leading provider of business-critical billing and charging software and solutions for communications service providers, today announced the closing of its acquisition of Nimbus Systems, a privately-held company that specializes in next generation billing, content settlement and customer care. Redknee announced its intent to acquire Nimbus Systems on July 30, 2010. The closure of the acquisition will immediately increase Redknee’s presence in Tier 1 group operators and will open opportunities for Redknee to expand into new geographies and other key verticals.

Caroline Chappell, Analyst at Large, Heavy Reading commented:

“The acquisition of Nimbus Systems by Redknee reiterates how the real-time billing and customer care space is becoming one of the most dynamic domains in the industry today. As the world continues to converge towards 3G and 4G networks, the need for robust end-to-end offerings in real-time billing and customer care becomes more urgent as service providers look to drive data revenue and increase profitability.”

Redknee Inc. (Toronto TSX: RKN)

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