Redknee (RKN.TO: Quote) has agreed to acquire Nokia Siemens Networks' Business Support Systems or BSS business. Nokia Siemens Networks believes Redknee is best suited to take ownership of the business based on the strength of Redknee's management team, continuity of the current BSS portfolio, and access to innovation for Nokia Siemens Networks' BSS customers. Nearly 1200 employees would transfer to Redknee, underpinning current service levels and quality for customers.
The total consideration paid by Redknee for the BSS business would consists of 15 million euros cash at closing, plus a maximum of 25 million euros for certain performance-based cash earn-outs expected to be paid over 12 to 36 months post-closing. Redknee anticipates to finance the transaction via. a combination of cash on its balance sheet and debt facilities.
The planned acquisition would bring to Redknee a complementary global footprint that spans over 90 countries across Europe, Asia Pacific, the Middle East and Africa. The transaction may close in the first half of calendar year 2013.
Nokia Siemens Networks' BSS business provides real-time charging, rating, policy, and customer care solutions to more than 130 communication service providers, including half of the top 100 global mobile operators.
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by RTT Staff Writer
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