Redknee Supports APAC Operator to Expand its MVNO Growth Strategy
Tier 1 Service Provider Increases Investment in Redknee’s Fully Managed, Cloud-Based Wholesale Billing Solution
TORONTO – May 8, 2013 – Redknee (TSX: RKN), a leading provider of business-critical software and solutions for communications service providers, is pleased to announce that a leading Tier 1 communications service provider (CSP) in APAC has signed a multi-year, multi-million dollar managed services contract for Redknee’s cloud-based wholesale and settlement solution. Redknee’s comprehensive billing and settlement solution will support the CSP’s Mobile Virtual Network Operator (MVNO) monetization and growth strategy. The renewal of the services contract with this existing customer reaffirms Redknee’s expertise in supporting Tier 1 operators to launch sub-brands, MVNO/Es to accelerate their growth strategies and build a profitable wholesale business, and new entrants to launch into the mobile sector.
By leveraging Redknee’s cloud-based wholesale and interconnect solution, the service provider is able to respond to the changing requirements of its MVNO customers to pinpoint service usage, provide rating options for on and off-network traffic, and manage wholesale billing requirements. Redknee’s solution is providing the service provider with the flexibility to meet the differing specifications of its customers and the scalability to add new MVNOs with ease.
Redknee’s fully managed solution enables CSPs to achieve rapid time-to-market, while eliminating the complexity and resources required if managed in-house. Redknee’s cloud service provides a cost-effective model for operators, delivering a turnkey wholesale billing solution that is reliable and scalable to meet the demands of future growth.
Lucas Skoczkowski, Redknee’s CEO, commented:
“Redknee is pleased to be driving the success of one of the leading Tier 1 mobile operators in Asia Pacific. As the mobile virtual network market continues to expand, MVNEs and MVNOs require greater flexibility and agility to stay competitive. With Redknee’s cloud-based and on-premise monetization solutions service providers are equipped to increase revenues, improve the customer experience and grow profitability.”
Available on-premise, cloud-based and as a Software-as-a-Service offering, Redknee’s interconnect and content settlement solution enables communication service providers (CSPs) to maximize the value of their network with a comprehensive and cost-effective interconnect, wholesale, MVNO and content settlement solution. Through its cloud-based offering, Redknee manages all of the back-end billing activities quickly and cost effectively, simplifies and streamlines day-to-day operations, therefore allowing service providers to remain agile and to focus on its core business/marketing needs. In addition, Redknee’s comprehensive monitoring and reporting features are being leveraged by service providers across the globe for fraud detection, network auditing, best-cost routing and other network analysis and management purposes ensuring CSPs have a pinpoint understanding of the value of the network; can quickly resolve disputes; and obtain valuable marketing feedback. Its scalable architecture supports the rating and settlement of billions of events a day at Tier 1 service providers across the globe.
Certain statements in this document, including the extent of revenue that may be realized by Redknee from the contract entered into to provide cloud-based wholesale and settlement solution and the ability of that solution to support the monetization and growth strategy of the service provider may constitute “forward-looking” statements which involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this document, such statements use such words as “may,” “will,” “expect,” “continue,” “believe,” “plan,” “intend,” “would,” “could,” “should,” “anticipate” and other similar terminology. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Persons reading this news release are cautioned that such information may not be appropriate for other purposes.
Such forward-looking statements include the statements regarding financial and other projections as well as statements regarding Redknee's future plans, objectives or performance for the current period and subsequent periods and regarding the markets for our products. These statements reflect current assumptions and expectations regarding future events and operating performance and speak only as of the date of this document. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward-looking statements, including, but not limited to, the inability of Redknee to meet performance metrics specified under the contract or otherwise satisfy its obligations required to be performed under the contract, a material adverse change in the affairs of Redknee, and the factors discussed under the “Risk Factors” section of Redknee's most recently filed AIF which is available on SEDAR at www.sedar.com and on Redknee's web-site at www.redknee.com. Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements.
Although the forward-looking statements contained in this document are based upon what Redknee believes are reasonable assumptions, Redknee cannot assure investors that our actual results will be consistent with these forward-looking statements. Redknee assumes no obligation to update or revise these forward-looking statements to reflect new events or circumstances, except as required by securities law
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