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Accelerating 3G Adoption Sees Tier 1 South East Asian Operator Increase Redknee InvestmentOperator Increases Redknee Investment to Capitalize on 3G Growth (January 18, 2012)
TORONTO -- (Marketwire) -- 01/18/12 -- Redknee Solutions, Inc. (TSX: RKN), a leading provider of business-critical billing and charging software and solutions for communications service providers, is pleased to announce that it has signed a significant capacity expansion deal that will see a Tier 1 South East Asian operator increase its investment in Redknee's wholesale settlement and billing solution.
The operator's decision to increase investment in Redknee's wholesale billing solution is in response to its growing traffic and evolving interconnect and settlement requirements due to the accelerating adoption of its 3G services. According to Synergy Research Group, the number of 3G subscribers in Asia reached 381 million in mid-2011, having spiked 51 percent over the previous 12 months. Redknee's flexibility and scalability enables this operator to address the changing market needs by launching innovative service offerings.
"This increased investment in Redknee's solution by our customer in South East Asia is indicative of the positive impact that the growth of 3G adoption is having on increasing traffic and revenues for our customers," said Lucas Skoczkowski, Redknee's CEO. "We are pleased to be reinforcing our value to service providers in such a dynamic market like Asia. At Redknee, we continue to invest in developing cloud-based and on-premise monetization solutions to enable service providers in Tier 1 markets to increase revenues, improve the customer experience and grow profitability."
Redknee's wholesale billing solution provides operators with greater visibility into network transactions in order to achieve converged wholesale settlement and accurate wholesale billing. Deployed either in the cloud or on-premise, Redknee enables service providers to maximize the value of their network with a comprehensive and cost-effective interconnect, wholesale, MVNO and content settlement software solution. Its 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; as well as obtain valuable marketing feedback. Its scalable architecture supports the rating and settlement of billions events a day at Tier 1 operators in EMEA, APAC and Americas regions.
For more information about Redknee and their solutions, please go to www.redknee.com.
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.
Forward Looking Statement
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. 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 factors discussed under the "Risk Factors" section of the company's the most recently filed AIF which is available on SEDAR at www.sedar.com and on the company's web site at www.redknee.com.
Although the forward-looking statements contained in this document are based upon what we believe are reasonable assumptions, we cannot assure investors that our actual results will be consistent with these forward-looking statements. We assume no obligation to update or revise these forward-looking statements to reflect new events or circumstances, except as required by securities law.
For additional information please contact:
Ashleigh Young, Corporate Communications
+1 905 625 2733
David Charron, Chief Financial Officer
+1 905 625 2943
Matt Glover or Michael Koehler
Liolios Group, Inc.
+1 949 574 3860
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