CSG Systems International Completes Sale of Global Software Services Division Assets to Comverse
12 Dicembre 2005 - 1:55PM
PR Newswire (US)
ENGLEWOOD, Colo., Dec. 12 /PRNewswire-FirstCall/ -- CSG Systems
International, Inc., (NASDAQ:CSGS), a leading provider of customer
care and billing solutions, today announced it has completed the
sale of its Global Software and 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.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020627/CSGSLOGO )
"With the completion of this sale of the GSS assets to Comverse,
CSG will intensify its focus on our core competencies in the cable
and DBS markets," said Ed Nafus, CSG President and Chief Executive
Officer. "We will continue to provide scalable and dependable
solutions that enable our customers to grow and transform their
businesses, in addition to providing superior customer service. We
look forward to working with our customers as they begin to deliver
new services and unveil new business models that will require our
expertise and solutions." CSG initially announced the divestiture
on Oct. 7, 2005. The aggregate sales price is approximately $249
million in cash, which will be adjusted based upon the results of a
customary, post-closing adjustments. CSG expects to incur certain
material one-time charges in the fourth quarter of 2005 that are
currently not included in CSG's fourth quarter 2005 financial
guidance. These charges relate to the closing of the sale of the
GSS Business and other related activities to be implemented before
the end of 2005. Once the company is able to reasonably estimate
these amounts, the company will provide updated fourth quarter 2005
financial guidance, as well as full-year 2006 financial guidance.
More information about Comverse and the sale of the GSS assets can
be found at http://www.comverse.com/billing. About CSG Systems
International Headquartered in Englewood, Colorado, CSG Systems
International (NASDAQ:CSGS) is the leading provider of outsourced
billing, customer care and print and mail solutions and services
supporting the North American convergent broadband and direct
broadcast satellite markets. CSG's solutions support some of the
world's largest and most innovative providers of bundled
multi-channel video, Internet, voice and IP-based services. CSG's
unique combination of solutions, services and expertise ensure that
cable and satellite operators can continue to rapidly launch new
service offerings, improve operational efficiencies and deliver a
high-quality customer experience in a competitive and ever-changing
marketplace. For more information, visit our website 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 three largest clients, Comcast
Corporation, Echostar Communications, and Time Warner, Inc., which
combined make up over 50% of CSG's revenues from continuing
operations; 2) the continued acceptance of CSG ACP and its 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 renew contracts and sell additional products
and services to existing and new clients; and 8) 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/ http://www.comverse.com/
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