Redknee Signs $10 Million Dollar Orders to Support Virtualization for Tier 1 Operator in EMEA

TORONTO, Oct. 14, 2014 (Canada NewsWire via COMTEX) –Redknee Solutions Inc. (TSX: RKN), a leading provider of real-time monetization and subscriber management software, is pleased to announce that a Tier 1 operator in EMEA has signed software and services orders worth over $10 million dollars. With Redknee’s software platform, the service provider is implementing its real-time billing and charging virtualization strategy. Leveraging Redknee Unified, the service provider has the flexibility and scalability to create new business models, generate new revenue streams and launch innovative marketing campaigns faster to the market. These new orders demonstrate the confidence customers have in Redknee’s capabilities and solutions to support their growth strategies.

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. Available on-premise, cloud-based and as a Software-as-a-Service offering, Redknee’s real-time converged billing, charging, policy management and customer care solution enables communications service providers (CSPs) to deliver differentiated services and an advanced customer experience through personalized offers, new pricing and tariff options, real-time notifications, and customer self-care, to their prepaid, postpaid and hybrid customers. Redknee’s real-time Unified Charging is supporting the service provider’s strategy to reduce costs and enhance the customer experience through virtualizing its BSS.

Lucas Skoczkowski, CEO of Redknee, commented:”Securing $10 million in new orders with this Tier 1 group operator customer highlights Redknee’s continued momentum moving customers to virtualized platforms for business critical functions. Redknee’s solutions give service providers the means to improve operational efficiency, build a competitive advantage, deliver an enhanced subscriber experience and accelerate their growth and profitability strategies. Redknee continues to invest in monetization and subscriber management solutions to be the most compelling provider of choice for Tier 1 operators and communications service providers across the globe.”

Redknee enables communications service providers to monetize and optimize the subscriber experience across the entire customer lifecycle. From activation and provisioning, to supporting a 360 degree view of customers’ usage, preferences, and integration with third party social media sites, to empowering customers with self-care tools and the ability to pay for services on the go, Redknee offers one of the most comprehensive real-time converged charging, policy management, billing and customer care solutions in the industry. 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.

Forward-Looking Statements

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. 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.

 

About Redknee:

Redknee is a leading global provider of innovative software products, solutions and services. Redknee’s award-winning solutions enable service providers to monetize new services, business models and content and to deliver a connected customer experience – through either SaaS or on-premise based solutions. Redknee’s real-time monetization and subscriber management platform provides innovative converged charging, billing, policy management, and customer care solutions for over 200 communications service providers and is supporting service providers to monetize digital services across utilities and smart meters, transportation, connected homes and vehicles, and other enterprises that are emerging from the growing ecosystem of the Internet of Things (IOT). 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 about Redknee and its solutions, please go to www.redknee.com.

 

SOURCE Redknee Solutions Inc.

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SOURCE: Redknee Solutions Inc.

 

Redknee Solutions: Michaela Radman, Corporate Communications, michaela.radman@redknee.com, +1 905 625 2190; Investor Relations: Robert Kelly, TMX Equicom, T: (416) 815-0700 ext. 253, rkelly@tmxequicom.com