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Redknee Wraps Buy of Nokia BSS Unit

Billing & OSS World

Billing & OSS World

April 1, 2013

By: Craig Galbraith

Redknee has completed its $52 million purchase of Nokia's BSS unit, marking another step in Nokia's shift to specializing in mobile broadband.


Redknee CEO Lucas Skoczkowski says the completion of the acquisition marks a significant milestone in his company's long-term growth strategy. It increases Redknee’s market share to include more than 200 customers across 90 countries, while adding relationships with multiple Tier-1 operators from around the world.


The company, based in Mississauga, Ontario, Canada, offers a portfolio of converged billing, charging, customer care and payments solutions for mobile network operators (MNOs), mobile virtual network operators/enablers (MVNO/Es) and other communications service providers.


Notably, Redknee says the transaction expands its end-to-end real-time BSS portfolio, allowing the company to provide compelling solutions, either on-premise, cloud-based or as software-as-a-service (SaaS) to more than 2 billion subscribers. From a product perspective, Redknee provides everything from activation to provisioning, to providing a 360-degree view of the customers’ usage, to providing analytics, campaign management, cash collection and wholesale billing and settlement, and empowering subscribers with self-care tools and the ability to pay for services on the go.


Approximately 1,200 employees have made the transfer from NSN to Redknee – most of those are stationed in Berlin; Bangalore; and Wroclaw, Poland. The acquisition also involves the transfer of Nokia's BSS customer and supplier contracts, intellectual property rights, fixed assets and associated liabilities.


Media Enquiries: media@redknee.com

About Redknee:
Redknee monetizes today's digital world. We provide a complete portfolio of mission-critical monetization and subscriber management solutions, including real-time billing, charging, policy and customer care modules, which allow Communications Service Providers to charge for things in new and innovative ways and create a unique user experience. Available on premise, cloud-based, or as a Software-as-a-Service, Redknee's low-risk, flexible solutions power more than 250 businesses across the globe. Established in 1999, Redknee Solutions Inc. (TSX: RKN) is the parent of the wholly-owned operating subsidiary Redknee Inc. and its various subsidiaries.

References to Redknee refer to the combined operations of those entities. For more information about Redknee and its solutions, please go to www.redknee.com.

For additional information please contact:

Redknee Solutions:
Michaela Radman, Corporate Communications
Michaela.Radman@redknee.com
+1 905 625 2190

Investor Relations:
Conrad Seguin
NATIONAL | Equicom
T: (416) 586-1951
cseguin@national.ca