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Investor News Release
Redknee's acquisition of Orga Systems marks a milestone in the execution of the Company's long-term growth strategy by increasing Redknee's market share with customers across telecom and non-telecom industries. Orga's product suite addresses the need for innovative monetization solutions for telco and non-telco customers. 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.
"We are excited to add and welcome Orga Systems employees, customers, partners and software portfolio to the Redknee family," said Lucas Skoczkowski, CEO of Redknee. "This acquisition combines two of the leading real-time monetization software companies. We are committed to ensuring the continued success of Orga's customers, by delivering to them our market-leading technology and services capabilities."
Mr. Skoczkowski added: "As we move forward with the integration, we will leverage our combined product portfolio to expand and enhance our best-of-suite customer focused solutions. We will continue to focus on delivering innovative software solutions. We expect that this acquisition will be accretive and will advance Redknee's strategy of being the largest independent provider of choice for real-time monetization and subscriber management software. Moreover, we expect that this will help us accelerate Redknee's expansion into new vertical markets. I look forward to updating the market on the acquisition over the coming months."
Since 1993, Orga's portfolio of real-time software products and consulting services has been designed for living in a connected world. Telecommunications providers, energy suppliers, railway companies and car manufacturers such as
The acquisition is anticipated to close in the fourth quarter of fiscal 2015. The acquisition is subject to final agreement on customary terms and conditions. The acquisition would be a significant acquisition for Redknee under applicable securities laws and, accordingly, Redknee will file a Business Acquisition Report within 75 days following the closing of the acquisition.
Such forward-looking statements include statements regarding the completion of Redknee's acquisition of Orga Systems, the combination of the two companies' product lines and the enhancement of Redknee's platform, the expansion of Redknee's market reach into new and existing markets, and the transaction being accretive to Redknee. These statements reflect current assumptions and expectations regarding future events and operating performance and speak only as of the date of this document. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward-looking statements, including, but not limited to, the failure of Redknee to satisfy the closing conditions to the acquisition of Orga Systems, a material adverse change in the affairs of Redknee or Orga Systems, challenges in integrating the businesses and product lines of Redknee and Orga Systems, the inability of Redknee's and Orga Systems products to perform as expected, and the factors discussed under the "Risk Factors" section of Redknee's most recently filed AIF which is available on SEDAR at www.sedar.com and on Redknee's web-site at www.redknee.com. Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements.
Although the forward-looking statements contained in this document are based upon what Redknee believes are reasonable assumptions, Redknee cannot assure investors that our actual results will be consistent with these forward-looking statements. Redknee assumes no obligation to update or revise these forward-looking statements to reflect new events or circumstances, except as required by securities law.