Redknee Wins APAC Billing Transformation Deal
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TORONTO, September 21, 2010 -- Redknee Grows Regional Footprint With Multi-Million Dollar Billing Replacement Project
Redknee (TSX:RKN), a leading provider of business-critical software and services for communications service providers, has announced it has been awarded a new client agreement with an APAC service provider to replace its wireless billing and customer care platform for its mobile operations. The deal, worth more than five million dollars, demonstrates Redknee's successful growth strategy in the Asia Pacific region. Redknee expects to recognize the majority of revenue over fiscal 2011.
Leveraging Redknee's market-leading Turnkey Converged Billing (TCB) will enable the service provider to enhance its subscriber offering and end-user experience by offering real-time promotions, enhanced customer care and the delivery of hybrid payment options, such as family or group account plans, faster to the market. In addition, Redknee's real-time converged billing and customer solution will enable the service provider to deliver the charging transparency, flexibility and self-care options that typically only prepaid customers receive when selecting new pricing plans and service offerings.
Redknee's continued growth in the APAC region is reflective of the increased focus service providers in the region are now placing on improving the subscriber experience for their customers. According to a recent survey of communication service providers (CSPs) in APAC by Stratecast, a division of Frost & Sullivan, 62 per cent of CSPs surveyed stated that improving customer care and self care was the top customer-oriented business function that is receiving the most attention in their organization.
Lucas Skoczkowski, CEO of Redknee, commented:
"We continue to grow our market share in the APAC region with a significant new customer and a billing transformation project, with the majority of revenue associated with this contract expected to be recognized over the next fiscal year. Redknee's real-time converged solutions are enabling more than 90 service providers across the world to launch successful services, drive profitability and increase revenue. At Redknee, we are investing in solutions that serve the global markets to support the success of our wireless customers and the execution of our growth strategy."
Redknee is attending the forthcoming Mobile Asia Congress, which is being held in Hong Kong from 17-18 November 2010.
For more information about Redknee and its solutions, please go to www.redknee.com.
About Redknee:
Redknee is a leading global provider of innovative communication software products, solutions and services. Redknee's award-winning solutions enable operators to monetize the value of each subscriber transaction while personalizing the subscriber experience to meet mainstream, niche and individual market segment requirements. Redknee's revenue generating solutions provide advanced converged billing, rating, charging and policy for voice, messaging and new generation data services to over 90 network operators in over 50 countries. 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, visit www.redknee.com.
Source: Redknee Solutions Inc.
For further information:
Redknee Solutions:
Humera Malik,
Director of Global Marketing,
+1-905-625-2102,
humera.malik@redknee.com;
Redknee Solutions:
David Charron,
Chief Financial Officer,
+1-905-625-2943;
Investor Relations:
Investor_relations@redknee.com
