Intec Billing, a provider of business and operations support systems (BSS/OSS) and services to the global telecom industry, announced today the completion of its acquisition of the operating assets of outsourced billing and business process outsourcing (BPO) specialist EUR Systems. The EUR assets will be added to Intec’s existing service bureau operations in North America, to offer a comprehensive suite of end-user and wholesale billing and BPO solutions to the North American ILEC, CLEC and IXC market. The consideration, which will be paid in cash, is approximately $13.4 million*, subject to a working capital adjustment. The value of the gross assets acquired is approximately $6.6 million. EUR, which reported revenues of $36.0 million in 2005, employs approximately 230 professionals in its operations in Mechanicsburg, PA and San Antonio, TX.

Intec CEO Kevin Adams said, “Completion of this acquisition allows Intec to substantially increase its market share in the access billing space and to expand our capabilities as an outsourced billing and business process provider. We see very good synergies in this deal, which allows us to efficiently and effectively combine our outsourcing and service bureau operations under one experienced management team.”

The acquisition of EUR provides Intec with a centre of competence in outsourced billing and business services which, when combined with its existing Carrier Access Billing (CABS) and retail billing service bureaus, will make it one of the leading players in this market. The acquisition expands the Intec portfolio through the addition of a broad range of business process outsourcing services and also provides an opportunity for Intec to increase efficiency in its existing service bureau operations through economies of scale.

The EUR customer base includes over 40 telecom service providers in North America, three quarters of which are not existing Intec customers, presenting an additional opportunity for cross-selling of Intec products. All the acquired customers will benefit from the stability and wider capabilities across the whole BSS/OSS sector that Intec brings to this business unit.

EUR Systems COO Charles Achuff commented, “We are very pleased to have secured the future of the EUR Systems business and its service to our customers, by becoming a part of a financially strong, industry-leading supplier to the North American market. Our customers will also benefit from the broader set of products and services which the combined Intec/EUR business will be able to offer.”

About Intec Billing
Intec supplies billing software solutions to over 60 per cent of the world’s top 100 telecoms carriers and is one of the world’s fastest growing major BSS/OSS (business and operations support systems) vendors. Intec’s 350 customers include BellSouth Telecommunications Inc., Cable & Wireless, The Carphone Warehouse (UK), China Unicom, Deutsche Telekom, Eircom (Ireland), France Telecom, Hutchison 3G, O2, Orange, T-Mobile, Telefonica, Vodafone, Virgin Mobile, Vivo and Verizon. Intec works closely with its customers, many of whom have been with Intec since its inception, to provide the highest standards of performance, flexibility and robustness to help carriers service their customers effectively and profitably.

Intec’s comprehensive and expanding range of products, solutions and services includes:
- Retail billing and customer management
- Multi-service mediation and activation
- Inter-carrier billing settlements including US CABS and ITU-based settlement
- End-to-end content partner management
- Optimised wholesale routing and trading
- Real-time pre/post-paid mediation and charging
- A fully-integrated solution for IPTV charging, billing and user interaction

Founded in 1997, Intec is listed on the London Stock Exchange (ITL.L) and has over 1,600 staff and 31 offices in 25 countries. For more information, visit the Intec website at www.intecbilling.com.