Yet another acquisition in the OSS/BSS market - and it's Redknee again acquiring a German competitor (previous one - Dec. '12 "OSS/BSS Consolidation: Redknee to Buy NSN BSS" - here).
Redknee announced it has ".. reached a definitive agreement to acquire privately held Orga Systems for a total cash consideration of €38M. Orga’s technology and expertise will enhance Redknee’s real-time monetization and subscriber management platform for communication service providers and the Internet of Things (IoT). Orga Systems provides monetization solutions to more than 45 customers in the communications [see - here, Life:)], automotive, energy, and railway industries.
Orga’s highly skilled team of more than 500 employees across Europe, Middle East, and Africa (EMEA), the Americas, and Asia Pacific will join Redknee, further broadening its global reach. Orga Systems’ 2014 revenue was approximately €60M, with recurring revenue of greater than 45%. The acquisition will be funded through available cash on hand.
Lucas Skoczkowski [pictured], CEO, Redknee said: “As we move forward with the integration, we will leverage our combined product portfolio to expand and enhance our best-of-suite customer focused solutions. We will continue to focus on delivering innovative software solutions. We expect that this acquisition will be accretive and will advance Redknee’s strategy of being the largest independent provider of choice for real-time monetization and subscriber management software. Moreover, we expect that this will help us accelerate Redknee’s expansion into new vertical markets. I look forward to updating the market on the acquisition over the coming months."
See "Redknee to Acquire Orga Systems" - here.
Orga’s highly skilled team of more than 500 employees across Europe, Middle East, and Africa (EMEA), the Americas, and Asia Pacific will join Redknee, further broadening its global reach. Orga Systems’ 2014 revenue was approximately €60M, with recurring revenue of greater than 45%. The acquisition will be funded through available cash on hand.
Lucas Skoczkowski [pictured], CEO, Redknee said: “As we move forward with the integration, we will leverage our combined product portfolio to expand and enhance our best-of-suite customer focused solutions. We will continue to focus on delivering innovative software solutions. We expect that this acquisition will be accretive and will advance Redknee’s strategy of being the largest independent provider of choice for real-time monetization and subscriber management software. Moreover, we expect that this will help us accelerate Redknee’s expansion into new vertical markets. I look forward to updating the market on the acquisition over the coming months." See "Redknee to Acquire Orga Systems" - here.
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