TORONTO – May 15, 2012 Redknee (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 multiple new solution upgrades with its customer base in North America, leading to a multi-million dollar increase in Redknee’s Tier 1 business. Driven by the expansion of LTE networks in North America, Redknee continues to grow its Tier 1 business through its innovative solutions that are enabling communication service providers (CSPs) to monetize their LTE/4G services by launching new business models and actively managing the customer experience. According to Informa Telecoms & Media, North America leads the world for LTE adoption, currently accounting for 71 percent of global LTE subscriptions. In-Stat projects that globally, LTE will grow by 3,400 percent between now and 2015.
Lucas Skoczkowski, CEO of Redknee, commented:
“We see the growth of LTE as one of the key drivers for Redknee’s growing footprint across the globe, especially in Tier 1 carriers. Redknee’s monetization solutions are delivering the scalability and innovation to enable operators to capitalize on their investment in LTE quickly and effectively. At Redknee, we continue to invest in developing cloud-based and on-premise monetization solutions to enable service providers to increase revenues, improve the customer experience and grow profitability.”
Redknee’s patented solutions are bringing greater price and performance benefits to CSPs that are seeking to consolidate their subscriber data, reduce time-to-market and customer care costs, and increase scalability and profitability in their business. With Redknee, CSPs have the ability to monetize the explosion in data traffic and deliver an advanced customer experience to their customers and support critical functions such as E911. In addition, Redknee supports new business models that monetize LTE services, such as location-based services, M2M and connected devices, and enables them to be launched with improved agility and control. Scalable to 250 million subscribers, Redknee contributes to a significantly smaller hardware footprint, reducing the outlay of capital expenditures and the associated complexity.
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 http://www.redknee.com/