Subex acquires Canadian telecom firm for $164.5 mn

Thursday, 18 January 2007, 06:00 Hrs
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Bangalore: Subex Azure Ltd, a vendor of revenue maximisation solutions for telecom operators, Thursday announced the acquisition of Canadian firm Syndesis Ltd for 7.32 billion ($164.5 million).

Subex Azure CEO Subash Menon told reporters here the acquisition - an all-cash deal - would enable his firm to become a leading vendor of telecom operations support software (OSS) solutions.

The 20-year-old Syndesis, a leading Canadian telecom solutions provider, posted top-line revenues of 2.02 billion ($45 million) in 2006.

"As one of the leaders in the revenue maximization solutions segment, we are driven by our strategy to offer a portfolio of software solutions that help telecom operators gain competitive advantage," Menon said.

The total addressable market size for the combination of fraud and revenue assurance, interconnect, service assurance and service fulfillment solution segments is expected to grow to $4.5 billion by 2010 from $2.5 billion in 2006.

"The acquisition will strengthen both the companies in the fast-growing market for telecom software solutions in a synergistic manner. We see huge potential for further growth in the strategic space of OSS space," Syndesis CEO John Lochow said.

Subex Azure's customers include 23 of the world's 40 largest telecom firms by revenue. The Bangalore-based firm has operations in Beijing, Denver, Dubai, Ipswich, London, Ottawa, Singapore and Sydney.

Source: IANS
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