Despite the options scandal and the risk of delisting from Nasdaq, it’s business as usual at Comverse Technology Inc. (Nasdaq: CMVT) subsidiary Comverse Inc. The developer of added value software and billing solutions for communications carriers announced today that it would acquire French start-up Netonomy, which develops customer self-service solutions for the telecommunications industry, for $19 million. Netonomy’s solutions enable customers to manage transactions, buy products and services, and analyze their bills in advance and pay using any telecommunications device. The Paris-based company was founded in 1999. It main investors are Atlas Ventures, Fidelity Ventures and VPSA.
Comverse Technology had $2.1 billion in cash at the end of the first quarter of 2006, so it has no problem in writing a check. Notonomy expands Comverse’s portfolio of real-time billing and customer management solutions for communication service providers.
Comverse CEO Zeev Bregman said, “Following integration of Kenan Billing solutions, this latest addition of Netonomy better positions Comverse to provide converged billing solutions enabling superior choice, convenience and control. Our customers benefit from field-proven and scalable technology, short time to market, and an extensive, modular designed product feature set."
Published by Globes [online], Israel business news - www.globes.co.il - on August 23, 2006
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