Redknee Signs $10 Million Charging Upgrade and New Policy Management Solution Contract
TORONTO – December 16, 2013 Redknee Solutions Inc. (TSX: RKN), a leading provider of business-critical billing and charging software for communications service providers, is pleased to announce that it has signed a multi-year contract worth more than $10 million dollars for Redknee’s integrated charging and policy solution. The significant upgrade of the charging solution and new win for Redknee’s policy management (PCRF) solution, with an acquired customer in EMEA, reflects the positive momentum that Redknee is experiencing with its combined customer base.
Lucas Skoczkowski, Redknee’s CEO commented:
“We are very excited about this significant software product upgrade contract from an acquired customer in the Middle East. I feel it is a testament to the positive feedback Redknee has received throughout the year from our customers. In addition, it validates the successful integration of the acquisition, the investments we continue to make in the combined product portfolio, and our focus on our long-term growth strategy. We are very excited by the opportunity afforded to us by our existing customers and partners as we look to continue to execute on our growth plan.”
Redknee provides a complete portfolio of monetization and subscriber management solutions for communications service providers across the world. Redknee enables CSPs to monetize and optimize the subscriber experience across the entire customer lifecycle. From activation to provisioning, to providing a 360 degree view of the customers’ usage, preferences, and integration with 3rd party social media sites, to empowering customers with self-care tools and the ability to pay for services on the go, Redknee provides one of the industry’s most comprehensive real-time converged billing, charging, customer care and payments solutions. Redknee’s highly scalable and flexible solution enables CSPs to monetize third party relationships and content, support resellers and dealers and launch multi-country operations quickly, effectively and with a low total cost of ownership. Available on-premises, cloud-based and as a Software-as-a-Service offering, Redknee provides a complete monetization and subscriber management solution to more than 200 service providers, including some of the largest Tier 1 operators in the world.
For more information about Redknee and its solutions, please go to www.redknee.com.
Certain statements in this document 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. Invoices are submitted to the customer once the related terms of the contract have been performed by Redknee. 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's products to perform as expected, 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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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:
Michaela Radman, Corporate Communications
+1 905 625 2190
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