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Redknee to buy Orga Systems for EUR 38 million
2015-06-24 08:47:00| Telecompaper Headlines
(Telecompaper) Redknee Solutions announced it has reached a definitive agreement to acquire privately held Orga Systems for EUR 38 million cash. Orga's technology and expertise will enhance Redknee's real-time billing and subscriber management platforms for communication service providers and the Internet of Things, adding more than 45 customers in the communications, automotive, energy and railway industries and more than 500 employees across the world. Orga Systems generated 2014 revenue of around EUR 60 million, of which over 45 percent was recurring revenue. The acquisition will be funded through available cash on hand and is expected to close in the fourth quarter.
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Category:Telecommunications