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Redknee Solutions snaps up Nimbus Systems

30th Jul 2010, 4:15 pm

Communication software products, solutions and services group Redknee Solutions (TSX:RKN) has entered into an agreement to acquire Nimbus Systems, further expanding its presence among several blue chip telecommunication companies, notably Vodafone (LON:VOD), Orange (part of France Telecom (NYSE:FTE)) and Telefonica (NYSE:TEF).

Nimbus Systems, formed in 2001, provides a range of solutions to operators, but is mostly focused on supplying customer relationship management systems. The company`s clients outside of the telecoms industry include Spanish banking giant Santander, and First Data, a leading provider of credit and loyalty card infrastructure.

Nimbus Systems' customers and employees will be integrated into Redknee's existing business while the two co-founders will assume leadership roles in business line management with Redknee.

"We are pleased to announce this important milestone in the execution of Redknee's growth strategy. The acquisition of Nimbus Systems meets all of our key acquisition criteria: increasing our access to customers; adding skilled employees in key areas to support our growth; and expanding our existing product lines with complementary offerings in post-paid billing, billing tools and customer experience management," commented Lucas Skoczkowski, Redknee's CEO. "The market, product and cultural synergies between the two companies will elevate our capabilities and market presence to better serve our customers, create cross selling opportunities for joint product and service portfolio, while positioning us to engage and win new customers."

Joao Goncalves and Jose Martull, co-founders of Nimbus Systems commented:

"We are very excited to join Redknee. Redknee's global presence, strong reputation in the real-time billing space and its commitment to its customers make it an ideal combination to extend the power of next generation customer care and billing. Our shared vision of bringing together network and business intelligence will give service providers unrivalled next generation billing, settlement and customer experience management solutions to drive revenue and maximize their investments."

Nimbus Systems is headquartered in Madrid, Spain with offices in Lisbon, Portugal.

Redknee is paying €11.25 million for Nimbus Systems in cash and shares.

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Redknee Solutions snaps up Nimbus Systems

No investment advice