CSG Systems International Signs Agreement to Sell Global Software Division Assets to Comverse
07 Ottobre 2005 - 1:00PM
PR Newswire (US)
Conference Call on Sale to Be Held at 8 a.m. EDT, October 7th
ENGLEWOOD, Colo., Oct. 7 /PRNewswire-FirstCall/ -- CSG Systems
International, Inc., (NASDAQ:CSGS), a leading provider of customer
care and billing solutions, today announced it has reached an
agreement to sell its Global Software & Services Division
assets to Comverse, Inc., a division of Comverse Technology, Inc.
(NASDAQ:CMVT), the world's leading provider of software and systems
enabling network-based multimedia enhanced communications services,
for approximately $251 million in cash, subject to certain
adjustments. (Logo:
http://www.newscom.com/cgi-bin/prnh/20020627/CSGSLOGO ) CSG's
Global Software and Services Division incorporates the Kenan FX
software and services portfolio that supports more than 150
customers worldwide as well as the ICMS customer care and billing
assets acquired from IBM in 2002. "This decision is part of a
larger strategic planning process that the Board and this
management team started several months ago," said Ed Nafus, chief
executive officer and president of CSG Systems International, Inc.
"The divestiture of the GSS Division will allow CSG to intensify
its focus on our core competencies in the cable and DBS markets.
This will allow us to continue to provide scalable and dependable
solutions that will enable our customers to grow and transform
their businesses, in addition to providing superior customer
service. We believe that the video industry is beginning to
transform their business models from providing content over their
network to one device, to providing content, anytime, to any
device. I believe we are in a unique position to enable this
transformation." "The combination of the GSS Division with Comverse
will strengthen Comverse's leadership position in the emerging
converged billing software market, and will create synergistic
cross-selling opportunities into the respective GSS and Comverse
customer bases," said Kobi Alexander, Chairman and CEO of Comverse
Technology. The transaction is expected to close by the end of
January 2006 pending government agency approvals and other certain
closing conditions. Conference Call Scheduled A conference call
with the CSG management team has been scheduled today, October 7th,
at 8:00 a.m. EDT. Participants should dial 303.262.2050 and ask for
the CSG Conference Call. A replay will be available for seven days
at 303.590.3000, passcode 11041469#. You can access the conference
call on the company's website at http://www.csgsystems.com/. About
CSG Systems International Headquartered in Englewood, Colorado, CSG
Systems International (NASDAQ:CSGS) is a leader in next-generation
billing and customer care solutions for the cable television,
direct broadcast satellite, advanced IP services, next generation
mobile, and fixed wireline markets. CSG's unique combination of
proven and future-ready solutions, delivered in both outsourced and
licensed formats, empowers its clients to deliver unparalleled
customer service, improve operational efficiencies and rapidly
bring new revenue-generating products to market. CSG is an S&P
Midcap 400 company. For more information, visit CSG's Web site at
http://www.csgsystems.com/. This news release contains
forward-looking statements as defined under the Securities Act of
1933, as amended, that are based on assumptions about a number of
important factors and involve risks and uncertainties that could
cause actual results to differ materially from what appears in this
news release. These factors include, but are not limited to: 1)
CSG's ability to continue to perform satisfactorily and maintain
good customer relations with its two largest customers, Comcast
Corporation and Echostar Communications, which combined represent
approximately one-third of CSG's revenue; 2) the continued
acceptance of CSG ACP, CSG Kenan FX and their related products and
services; 3) CSG's ability to enhance current products and develop
new technology that will retain existing clients and capture new
market share; 4) significant forays into new markets, which may
prove costly and unprofitable; 5) the degree to which CSG's
expectations of market penetration and consumer acceptance of
broadband, wireline and wireless services prove true -- and even if
realized, CSG's ability to meet the billing and customer care needs
of those markets; 6) client consolidation, which has decreased the
number of potential buyers for many of CSG's products and services;
7) CSG's ability to expand and effectively operate its business
internationally, which is much more complex and carries a higher
collections and currency risk; 8) CSG's ability to renew software
maintenance contracts and sell additional software products and
services to existing and new clients, both domestically and
internationally; and 9) CSG's ability to successfully deliver on
lengthy and/or complex implementation projects, which by their
nature, carry much more risk. This list is not exhaustive and
readers are encouraged to review the additional risks and important
factors described in CSG's reports on Forms 10-K and 10-Q and other
filings made with the SEC.
http://www.newscom.com/cgi-bin/prnh/20020627/CSGSLOGO
http://photoarchive.ap.org/ DATASOURCE: CSG Systems International,
Inc. CONTACT: Media, Elise Brassell, Corporate Communications,
+1-303-804-4962, or Investors, Liz Bauer, SVP, Corp. Comm & IR,
+1-303-804-4065, both of CSG Systems International, Inc. Web site:
http://www.csgsystems.com/
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