Redknee Rises Above the Software Crowd

Redknee Inc.
www.redknee.com

Location Mississauga, Ont
Size 350 employees
Sector Software, wireless
Market International

In 1999, when Redknee came into existence, there was a dearth of appropriate domain names available, so the company decided to name itself after a Mexican tarantula.

“The whole idea was to make the company different and not just another technology company,” says CEO and founder Lucas Skoczkowski.

The company has quickly managed to become a provider of wireless software solutions to Rogers Wireless in Canada, to Cingular and T-Mobile in the U.S., and to Vodafone and O2, globally.

“We are definitely an engineering company; we solve problems then bottle (the solutions) into software and crank it out to top operators. Our customers being mobile operators, we help them create more value for their subscribers so they can increase their revenues.”

For a company in Germany, they created software that allows subscribers to have multiple devices such as a BlackBerry, Razr cell phone, and a car phone linked together as one number.

The idea being that a customer can direct a message, whether it’s text or an image to the device best capable of handling it. Prior to this, a top-end customer was spending $44 a month; that has grown to $66.

Now 90% of the company’s business occurs outside of Canada and includes Southeast Asia and Africa.

The company achieved approximately $39-million in revenue during its last fiscal year. A recent re-engineering of its management structure means it’s already practicing the corporate discipline needed to go public including filing quarterly financial statements with its accountants.

“We’ve experienced about a 62% growth rate over the last five years,” says Mr. Skoczkowski, who describes Redknee as having to transform itself from a nimble entrepreneurial company to a disciplined global business organization.

Philip Quinn, Financial Post

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 60 network operators in over 50 countries. Established in 1999, Redknee Solutions Inc.(RKN : AIM) 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/.