Redknee Solutions, a provider of real-time monetization and subscriber management software, has decided to acquire Orga Systems for €38 million in cash.
The acquisition of Orga will enhance Redknee’s real-time monetization and subscriber management platform for telecom service providers and the Internet of Things (IoT). The growth strategy of Redknee Solutions is to enhance presence in both telecom and non-telecom space. Orga Systems provides monetization solutions to more than 45 customers in the communications, automotive, energy, and railway industries.
More than 500 employees across Europe, Middle East, and Africa (EMEA), the Americas, and Asia Pacific will join Redknee. Orga Systems clocked €60 million revenue in 2014, with recurring revenue of greater than 45 percent.
When integrated with Redknee’s real-time charging, policy, billing and customer care platform, the combined product suite will enable Redknee to accelerate and expand its reach into the growing market for IoT monetization.
Lucas Skoczkowski, CEO of Redknee, said: “This acquisition will advance Redknee’s strategy of being the largest independent provider of choice for real-time monetization and subscriber management software. This will help us accelerate Redknee’s expansion into new vertical markets.”
Telecom providers, energy suppliers, railway companies and car manufacturers such as BMW have relied on Orga Systems. Some of the customers include America Moviles, Astelit, Avea, BMW, Telecom Italia Group and Meralco Philippines.
Baburajan K
editor@telecomlead.com
