2005 News Releases
Redknee Completes Financing for $10.0 Million USD
TORONTO, ON – June 27, 2005 – Redknee Inc., a leading global provider of communication software to wireless telecommunication network operators, today announced the closing of US$10 Million in debt financing led by MMV Financial Inc. HSBC Capital (Canada) Inc. also participated in the financing.“Redknee will use this financing to expand the company’s sales and market share as we secure new customers and enter new markets,” said Lucas Skoczkowski, CEO of Redknee. “This financing validates our track record of twenty six customer wins and will propel us to deliver on our commitment to be the leading provider of mobile communication software in the wireless sector.”
”Redknee demonstrates all of the attributes of a winning company in the fast growing wireless sector”, said Minhas Mohamed, Chief Executive Officer of MMV Financial Inc. “Its dynamic management team has built a profitable company delivering mission-critical billing, messaging and location based systems to global wireless leaders such as O2, Vodafone, T-Mobile, Rogers Wireless and Bell Mobility. We are very impressed that Lucas Skoczkowski and his team have built, in such a short time, a company that ranks as one of the world leaders in its sector.”
RBC Capital Markets acted as exclusive private placement agent for Redknee on this transaction.
About Redknee:
Redknee is a leading global provider of innovative communication software products, solutions and services. Redknee's award-winning solutions enable operators to monetize the lifetime 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 70 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/.
About MMV Financial:
MMV Financial is a Toronto-based specialty finance company providing creative debt solutions directly to mid-stage technology and life sciences companies, with a focus on the Canadian and North American sectors. Previously known as MM Venture Partners, the firm is backed by top U.S. and Canadian private equity firms and financial institutions including Conning Capital Partners of Hartford, Connecticut, Caisse de dépôt et placement du Québec of Montreal, and Wells Fargo Foothill, a part of Wells Fargo Company. For more information visit http://www.mmvf.com/
