Comverse To Acquire Netonomy
Comverse, a subsidiary of Comverse Technology, Inc. (NASDAQ: CMVT), and the world’s leading supplier of software and systems enabling network-based multimedia enhanced communication and billing services, has announced that it has signed an agreement to acquire privately-held Netonomy for approximately $19 million in cash.
Raz Alon, interim CEO of Comverse Technology, said, “This acquisition is in line with our strategic efforts to continually enhance Comverse’s Total Communication Product Portfolio’s ability to generate revenues, strengthen customer loyalty and improve operational efficiency for communication service providers.”
Netonomy, a leader in customer self-service, bill analysis and point of sale (POS) solutions, extends Comverse’s portfolio of real-time billing and customer management solutions for communication service providers by adding additional tools to increase efficiency and enhance the end-customer experience.
Netonomy’s self-service application suite allows consumers, enterprises, and retailers to activate and manage subscriptions, buy new products and services, and review, analyze and pay bills using virtually any communication device. Netonomy customers include Bouygues Telecom, several Orange operators, T-Mobile UK, Telstra and Vodafone UK.
“Following integration of Kenan(R) Billing solutions, this latest addition of Netonomy better positions Comverse to provide converged billing solutions enabling superior choice, convenience and control,” said Zeev Bregman, CEO of Comverse, Inc. “Our customers benefit from field-proven and scalable technology, short time to market, and an extensive, modular designed product feature set.”
“Joining Comverse was a natural move,” said John Ball, CEO of Netonomy. “Service providers need to accelerate the adoption of direct self-service quicker than ever to lower their cost of acquisition and service, regardless of market segment. Web access to select and change plans and features also improves customer satisfaction and loyalty, while reducing operational costs.”
Editor’s Note: This acquisition, not unlike many other acquisitions, is subject to a number of customary closing conditions.
About Comverse
Comverse, a subsidiary of Comverse Technology, Inc. (NASDAQ: CMVT), is the world’s leading provider of software and systems enabling network-based multimedia enhanced communication and billing services. The company’s Total Communication(SM) portfolio includes value-added messaging, personalized data and content-based services, and real-time converged billing solutions. Over 450 communication and content service providers in more than 120 countries use Comverse products to generate revenues, strengthen customer loyalty and improve operational efficiency. For additional information, visit the Comverse website at www.comverse.com or Comverse Technology’s website at www.cmvt.com.
About Netonomy
Netonomy(R) is a leader in customer self-service solutions, providing online account management, e-Commerce and electronic bill analysis for the communications industry. Netonomy customers include leading operators in 15 countries around the world, such as innovative and market leading service providers: Bouygues Telecom, several Orange operators, T-Mobile UK, Telstra and Vodafone UK. Founded in 1999, Netonomy has offices in Europe, North America, and Asia.
