Trending >

Revitalized Redknee has nearly doubled since Nokia Siemens acquisition

M Partners analyst Ron Shuttleworth called Redknee's December acquisition of Nokia Siemens Networks Business Support Systems

M Partners analyst Ron Shuttleworth called Redknee’s December acquisition of Nokia Siemens Networks Business Support Systems “transformational”. Shares of Mississagua’s Redknee Solutions (TSX:RKN) are in the green again today, but you couldn’t blame investors for not noticing; the company has nearly doubled since the stunning acquisition of assets Nokia Siemens Networks’ Business Support Systems business.

The pickup, made early in December, cost Redknee $54-million, made up of $29-million in cash, plus a $25-million earn out. M Partners analyst Ron Shuttleworth, who called the acquisition transformational, said Redknee had gained a major footprint into the tier-one carrier market, instantly adding 35 such customers. Redknee added a total of 130 customers in ninety countries, 90% of which were new to the company.

The move clearly caught the market off-guard, some felt Redknee was itself a prime acquisition target.

Founded in the solarium of Skoczkowski’s apartment in 1999, Mississauga-based Redknee now boasts clients such as Microsoft and Cisco. The company’s billing solutions run the gamut from the customer side to helping service providers better monitor, understand and monetize their subscriber base. Redknee’s real-time converged billing solution has been benchmarked to support a quarter of a billion subscribers.

Shares of Redknee, which closed December 4th at $1.39, were at press time up 1.9% to $2.65.



We Hate Paywalls Too!

At Cantech Letter we prize independent journalism like you do. And we don't care for paywalls and popups and all that noise That's why we need your support. If you value getting your daily information from the experts, won't you help us? No donation is too small.

Make a one-time or recurring donation

About The Author /

Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.
insta twitter facebook


One thought on “Revitalized Redknee has nearly doubled since Nokia Siemens acquisition

  1. When you get a a lot of concerned brace, this implies that your knee drawback is
    taken into account to be quite simply “mild” in severity. Hinges of
    various strengths will be accustomed facilitate limit aspect to aspect
    movements and excessive front to back movements which will additional your knee

Leave a Reply