MACH, a leading global clearing and settlement partner for mobile based transactions, has has entered into a definitive merger agreement to acquire CB Holdings, Inc., the parent company of Cibernet; a leading mobile roaming, clearing and business solutions provider. The transaction is subject to regulatory approval and is expected to close in the first half of 2007. Luxembourg-based MACH is a portfolio company of Warburg Pincus.

The combined MACH and Cibernet enterprise is expected to have 650+ mobile operator customers, creating a leading, global inter-operator services company. Once combined, MACH and Cibernet will process more than 25 billion billing records, messages and content downloads annually.

Solutions offered by the combined Mach – Cibernet business are expected to range from enhancements to existing clearing and settlement platforms, to roaming profitability products, content third-party transaction management products and open connectivity platforms, amongst others.

Martin Lippert, CEO of MACH commented, “With Cibernet’s strong position in the financial settlement market, MACH will have a strong platform to offer our combined services to the global mobile operator market. Furthermore, bringing MACH’s and Cibernet’s competencies together will allow us to deliver unparalleled solutions and will expand the wealth of value-adding services from which all clients can benefit.”

By collectively combining MACH’s and Cibenet’s market position and global knowledge bank, the combined company is well-positioned to integrate effectively and expand their product portfolios.

MACH’s and Cibernet’s combined processing platform is agnostic to GSM, CDMA and other wireless technologies, which will allow for integration and further expansion of the services portfolio.

Piyush Sodha Chairman & CEO of Cibernet stated, “Through a greater regional presence, experienced multi-lingual support and dedicated account management, we bring a ‘high customer touch’ approach, taking client care to the next level.”

The combined company’s product portfolio will be strengthened to further enhance mission critical operator services around mobile data clearing and financial settlement. “The financial scale and integrity of the combined company together with the growth prospects, position the company perfectly to provide further value to all stakeholders, its valued client base, supportive investors and highly talented employees”, stated Vince Tallent, CFO of MACH

About MACH
MACH is the leading global clearing and settlement partner for mobile based transactions. MACH helps telecommunications companies and enterprises across the world to secure and develop existing and new revenue streams. We specialise in outsourced solutions within roaming clearing and billing, Interconnect and WLAN. In addition, we deliver mobile content services through the independently operating brand End2End as well as EDI under the Progrator brand. Our global client base comprises the leading international telecommunication companies, including established national operators on five continents and new licensees worldwide. With more than 500 employees and offices in 11 countries throughout the world, we combine global expertise and operations with local knowledge in each of our markets. For further information please visit www.mach.com

About Cibernet
Cibernet, founded in 1988, provides clearing and settlement services globally to more then 250 operators, through its state-of-the-art One1Clearâ„¢ platform, assuring mobile operators roaming revenues with an integrated end-to-end service. One1Clearâ„¢ performs the process of clearing and settlement with the highest level of automation and accuracy, providing unrivalled visibility to roaming data in intelligent insightful formats. Its industry-leading Fast Forward service is a set of tools and services providing operators with the people, tools, strategies and coverage targeted towards building and assuring roaming revenue profitability. Cibernet is headquartered in Bethesda, Maryland, in the US with locations in London, and Hyderabad, India, serving clients in more than 70 countries.