Lifetree to raise $60 Mn

By siliconindia   |   Friday, 23 November 2007, 08:00 Hrs
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Bangalore: Lifetree Convergence, a company that provides billing, messaging and business support software solutions to telecommunications carriers, plans to raise $60 million through the private equity route, reported Business Standard.

According to industry information, company plans to raise around $20 million from a global private equity investor, and the remaining amount from a couple of India-focused funds.

Lifetree, in addition to billing and messaging solutions, provides products such as web-based self-care portals, an electronic bill presentment solution and an interconnect solution for telecom operators, value added services for the aggregation and distribution of content-based services across devices.

With the fresh flow of funds, Lifetree is expected to expand its services business and implement a partner-based sales strategy.

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