Comverse To Acquire The GSS Division of CSG Systems
07 Ottobre 2005 - 12:00PM
Business Wire
Comverse Technology, Inc. (NASDAQ:CMVT) today announced that
Comverse Inc. has signed a definitive agreement to acquire the GSS
division and certain related assets of CSG Systems International,
Inc. (NASDAQ:CSGS), for approximately $251 million in cash, subject
to certain adjustments. The combination of GSS, a leader in
software-based billing solutions, with Comverse's Real-Time Billing
group, is expected to expand significantly Comverse's addressable
market, and enhance its leadership position in the emerging
converged billing market, serving wireless, wireline, cable,
satellite, and Internet-based service providers. The acquisition,
which is expected to close by the end of Comverse Technology's
fiscal 2005 (ending January 31, 2006), is projected to be slightly
accretive to the company's fiscal 2006 pro forma net income. Pro
forma net income excludes the impact of purchase accounting
adjustments related to the write-down of deferred revenue,
amortization of intangibles, and other acquisition-related costs,
among other items. Kobi Alexander, Chairman and CEO of Comverse
Technology, said, "We believe the emerging converged billing market
is approaching an inflection point, and that a significant growth
opportunity is at hand. Converged billing is expected to be a fast
growing, and ultimately one of the largest, segments of the overall
billing market. This combination is expected to enhance our
leadership position as a supplier of converged billing solutions,
and additionally will open up cross-selling growth opportunities
for data, messaging, content, and billing solutions into our
respective customer bases." Zeev Bregman, CEO of Comverse, the
company's network systems unit, said, "GSS complements our product
portfolio, technology, customer footprint, and strategic direction.
Most service providers today rely on disparate solutions for
billing, including highly customized, inflexible systems serving
specific customer and application segments, including prepaid,
post-paid, fixed, and wireless. As services and networks converge,
so too will billing solutions, addressing the different types of
convergence, such as prepaid/post-paid, fixed/mobile, and
data/voice. We believe that flexible, software-centric product
modules, such as those provided by GSS and Comverse, are best
suited to meet the needs of service providers going forward. In
addition, we believe service providers will appreciate the
advantages of having both value-added services and billing
solutions provided by the same supplier. These advantages include
faster time-to-market for new services, greater flexibility in
service segmentation, modification, and targeted marketing
campaigns, and lower total cost of ownership. This growth-driven
initiative is expected to position Comverse for long-term
leadership in the emerging and expanding converged billing market,
expand our customer base and scale, enhance the leadership position
of both GSS and Comverse in their respective domains, and introduce
new cross-selling growth opportunities into both customer bases."
GSS brings to Comverse a broad suite of software-based billing
solutions, supporting the voice, data, video, and e-commerce
offerings of approximately 150 service providers, including
wireless, wireline, cable, satellite, and Internet-based companies.
GSS customers include Bharti, British Sky Broadcasting, BSNL, BT,
China Telecom, eBay, France Telecom, O2, Telecom Italia and certain
Vodafone entities. The combination of GSS and Comverse's Real-Time
Billing group is expected to result in the creation of a leading
supplier of converged billing solutions, and one of the leading
overall suppliers of billing solutions for wireless and fixed
service providers. For the six months ended June 30, 2005, GSS and
the related assets to be acquired generated revenues of
approximately $83.6 million dollars. The acquisition is subject to
certain closing conditions. Conference Call Information A
conference call to discuss the GSS acquisition will be conducted
October 7, 2005, at 8:30am EDT. Participants should dial
706-643-1670. A replay will be available for seven days at
706-645-9291, access code 1306006. A live webcast can be accessed
at www.cmvt.com. The webcast will be available for replay for seven
days. About Comverse Technology, Inc. Comverse Technology, Inc.
(NASDAQ:CMVT), through its Comverse business unit, is the world's
leading provider of software and systems enabling network-based
multimedia enhanced communication services. These value-added
enhanced services solutions, along with the Company's real-time
billing solutions, comprise Comverse's Total Communication(TM)
portfolio. Comverse's Total Communication portfolio addresses four
primary categories: call completion and call management solutions;
advanced messaging for groups, communities and person-to-person
communication; solutions and enablers for the management and
delivery of data and content-based services; and real-time billing
and account management solutions for dynamic service environments.
Other Comverse Technology business units include: Verint Systems
(NASDAQ:VRNT), a leading provider of analytic software-based
solutions for communications interception, networked video security
and business intelligence; and Ulticom (NASDAQ:ULCM), a leading
provider of service enabling signaling software for wireline,
wireless and Internet communications. Comverse Technology is an
S&P 500 and NASDAQ-100 Index company. For additional
information, visit the Comverse Technology website at www.cmvt.com.
Note: This release may contain "forward-looking statements" under
the Private Securities Litigation Reform Act of 1995 that involve
risks and uncertainties. There can be no assurances that
forward-looking statements will be achieved, and actual results
could differ materially from forecasts and estimates. Important
factors that could cause actual results to differ materially
include, among others: risks associated with integrating the
business and employees of the GSS division of CSG Systems,
International; changes in the demand for the Company's products;
changes in capital spending among the Company's current and
prospective customers; the risks associated with the sale of large,
complex, high capacity systems and with new product introductions
as well as the uncertainty of customer acceptance of these new or
enhanced products from either the Company or its competition; risks
associated with rapidly changing technology and the ability of the
Company to introduce new products on a timely and cost-effective
basis; aggressive competition may force the Company to reduce
prices; a failure to compensate any decrease in the sale of the
Company's traditional products with a corresponding increase in
sales of new products; risks associated with changes in the
competitive or regulatory environment in which the Company
operates; risks associated with prosecuting or defending
allegations or claims of infringement of intellectual property
rights; risks associated with significant foreign operations and
international sales and investment activities, including
fluctuations in foreign currency exchange rates, interest rates,
and valuations of public and private equity; the volatility of
macroeconomic and industry conditions and the international
marketplace; risks associated with the Company's ability to retain
existing personnel and recruit and retain qualified personnel; and
other risks described in filings with the Securities and Exchange
Commission. These risks and uncertainties, as well as others, are
discussed in greater detail in the filings of the Company with the
Securities and Exchange Commission, including its most recent
Annual Report on Form 10-K and subsequent Quarterly Reports on Form
10-Q. These documents are available through the Company, or its
website, www.cmvt.com, or through the SEC's Electronic Data
Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov. The
Company makes no commitment to revise or update any forward-looking
statements in order to reflect events or circumstances after the
date any such statement is made.
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