Dublin, Ireland - June 2005 - Prime Carrier Ltd., a market leader in the provision of solutions for the international wholesale carrier-to-carrier telecommunications market, announced that it has acquired AM-BEO Ltd., a provider of advanced rating, charging and revenue settlement solutions to the retail communications industry. Financial deals of the transaction were not disclosed.
Under the acquisition agreement, all AM-BEO technology, intellectual property rights and customer contracts will transfer with immediate effect. On completion of the acquisition, the integrated company will trade as Prime Carrier Ltd. with the AM-BEO brand retained under the company’s brand portfolio.
In addition, AM-BEO staff will transfer to Prime Carrier Ltd., to further sell, market, develop, test, support and maintain the product range and their customer base. Specifically, AM-BEO staff will be integrated into Prime Carrier’s software development, product management, professional services and sales operations. The AM-BEO product development and support functions will continue to operate from AM-BEO’s offices in Galway, Ireland.
According to both companies, the acquisition agreement and their integration will strengthen and accelerate their respective market positioning and product strategies. This will result from the complementary combination of their strong product technologies, Prime Carrier’s MOST product portfolio and the AM-BEO nRate, nCharge and nSettlement products.
“This acquisition will enable Prime Carrier to offer a broader range of solutions to both the retail and wholesale telecommunications markets. Prime Carrier’s technology will complement AM-BEO’s settlement solutions as an existing proven wholesale product. The parallel development of the next generation of telecommunications services and Prime Carrier’s strategic market positioning serving both the retail and wholesale markets is timely. The available market for the integrated company is larger and easier to target with the attendant potential up-sell and pull-through opportunities,” stated Geoff Butcher, Chief Executive Officer, Prime Carrier Ltd.
“AM-BEO has developed very strong product technology, which will be used to extend existing Prime Carrier products with real-time quality and margin management by the processing of actual traffic information to enhance decision support processes. AM-BEO’s products have an established reputation in the market place in the provision of Convergent Charging solutions, with a number of high profile reference customers and strong channel partners. We look forward to developing these and other synergies,” added Geoff Butcher.
The Catalyst Group advised AM-BEO Ltd. on this transaction
About Catalyst Group:
The Catalyst Group provides international strategic investment banking and corporate development services. Catalyst develops worldwide and domestic mergers & acquisitions and divestiture opportunities and makes them happen. Catalyst serves Information Technology, Telecommunications, Internet and e-Business companies Offices in the United Kingdom, France, Germany, Netherlands and the U.S.(Boston and Austin). For more information on us please visit www.IT-catalyst.com
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