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4 June 2004 - Intec Telecom Systems PLC is pleased to announce that it has conditionally agreed with ADC Telecommunications, Inc. (ADC) to acquire its 'Singl.eView' retail billing software division for $74.5 million. The award-winning Singl.eView product line, which is widely regarded to be one of the top retail billing solutions available, has over 70 Tier 1 and Tier 2 carrier clients in 17 countries, including Deutsche Telekom, Virgin Mobile, Hutchison 3G, Optus, and Reliance.

Intec is already a significant participant in two of the key OSS sectors, inter-carrier billing and convergent mediation, and the addition of a strong capability in retail/transactional billing will substantially extend Intec’s ability to supply its carrier customers with the main operational systems required by telecommunications companies. The retail billing market is approximately the same size as all other sectors of the OSS industry put together, and the largest OSS contracts are signed in this area.

Commenting on the Acquisition, Intec Executive Chairman, Mike Frayne, said: “This acquisition will place us in the top tier of global OSS vendors, with the scale, customer base and product set to compete on equal terms for the largest billing and OSS contracts in the market. Intec currently has strong contract momentum in its core OSS business, and the acquisition of one of the industry’s most recognised retail billing companies will increase our presence in the largest, most influential telecoms software market.”

Intec CEO, Kevin Adams, added: “As a consequence of this transaction, Intec will be a leading OSS products company with over 450 customers and 600 installations, and a broad, technically advanced OSS product offering. Singl.eView is an award-winning product that fits logically into our current OSS architecture and allows us to substantially broaden our offering to customers worldwide.”

The Acquisition is to be part-financed by a vendor placing of approximately 60.3 million Intec shares to existing shareholder General Atlantic Partners (GA), increasing its holding to approximately 25.6%. The Acquisition is subject to Intec shareholders’ approval at an EGM.

Intec believes that the Acquisition is an important opportunity for the Company to deliver on its stated long-term strategy of good-value acquisitions of complementary OSS product businesses. Specifically the Board believes that the Acquisition will provide Intec with:

• A technically strong, market-proven retail/transactional billing system which has been the subject of a sustained, high level of investment in recent periods and is able to address all present and foreseeable market requirements in its current form;
• Additional capabilities, presence and scale to address the most demanding Tier 1 carrier requirements for OSS technology;
• Immediate high-level entrance to the important OSS market of retail billing/transaction management;
• Ownership of an award-winning product suite built with modern technologies, which is proven to be interoperable in customer sites with existing Intec offerings;
• Substantially increased revenues for the enlarged group: based on unaudited financial statements for the two most recently reported quarters, annualised revenues for the combined group would increase by over 50% on a pro forma basis;
• Over 70 Tier 1 and Tier 2 carrier clients in 17 countries;
• The opportunity to cross-sell both Singl.eView and Intec OSS products to current customers of both companies. More than ten high-profile clients currently operate both Singl.eView and Intec products together;
• An experienced and proven management and professional staff team of over 640 people with excellent skills in developing, selling and implementing complex, high-value retail billing systems worldwide;
• A greatly enlarged professional services team giving Intec a much increased ability to implement large OSS projects on a global basis. Singl.eView currently has over 400 professional services staff compared to around 250 in Intec;
• Productive relationships with several key integrators in the telecoms business, including Accenture, IBM and EDS
• Offices in a combined total of 27 locations which will increase Intec’s distribution and delivery capabilities to some important markets, including North America and Australia.

René Kern, a General Partner at GA and prospective director of Intec said, "We are delighted to increase our ownership in Intec significantly. Intec has established a strong track record of growth in a challenging market environment. As the telecommunica¬tions industry rebounds, Intec is well-positioned in providing mission critical software applications to the telecommunications sector. We have confidence in management's ability to integrate the Singl.eView business rapidly and look forward to supporting management in their continued plans for growth."

Information on Singl.eView

Singl.eView resulted from ADC's acquisition of Saville Systems in October 1999 and is currently one of two principal software groups within ADC’s Software Systems division. Singl.eView is a comprehensive revenue, transaction, billing and service management solution, typically sitting at the core of the OSS and business support systems (“BSS”) architecture of a telecoms carrier. Singl.eView comprises a number of functional modules which are used singly or in conjunction with each other to provide transaction management, billing, customer care and other functions required by almost all telecoms companies.

Singl.eView currently has over 70 active customers in 17 countries. The majority are larger (Tier 1 or large Tier 2) communications service providers. The Singl.eView division has recently won a number of awards for its products and customer installations, including the prestigious ‘Best Overall Contribution to Billing’, ‘Best Billing Implementation – Telecoms’ and ‘Best Billing Implementation – Utilities’ at the 2004 Global Billing Awards in London. It was also the most recognised retail billing brand in a recent industry awareness survey. Major Singl.eView clients include Virgin Mobile, Hutchison 3G, Optus, and Reliance.

Information on Intec Telecom Systems

Intec Telecom Systems is a leading OSS product vendor for fixed, mobile and next-generation networks (i.e. WLAN, 3G and IP), with more than 570 installations of its products worldwide in 400 customers. Founded in 1997, Intec was listed on the London Stock Exchange in June 2000. Intec has a strong position in the provision of inter-carrier billing systems and convergent mediation software, and has recently acquired a capability in IP billing and real-time mobile service charging and control. For the year ended 30 September 2003, Intec reported revenues of £50.7 million, with adjusted net earnings after tax of £4.1 million.

Intec’s product portfolio includes:
• Inter-mediatE™ - convergent mediation solution;
• InterconnecT™ - inter-carrier billing including US CABS and ITU-based settlement;
• Inter-activatE™ - flow-through provisioning and activation;
• Intec CPM™ - end-to-end content partner management; and
• Intec DCP™ (Dynamic Charging Platform) – a real-time pre/post-paid charging interface between the network and the back office.

Intec’s customer base includes, among others, BellSouth, BellSouth Peru, Brazil Telecom, Cable & Wireless, Cesky Telecom (Czech Republic), China Unicom, COLT Telecommunications, EBT (Taiwan), Eircom (Ireland), France Telecom, Hutchison 3G, Maxis (Malaysia), Nitel (Nigeria), Reliance (India), Singtel Optus (Australia), O2 Ireland, Orange, Telecom Argentina, Telecom Egypt, Telecom Italia, Tiscali, TPSA (Poland), Swisscom, T-Mobile International, Telefonica, Telia (Sweden), Telkom South Africa, Telstra, US Cellular, Westel (Hungary), Vodafone, VimpelCom (Russia), Vivo (Brasil) and Verizon.

This press release was distributed by ResponseSource Press Release Wire on behalf of Intec Telecom Systems in the following categories: Personal Finance, Business & Finance, Computing & Telecoms, for more information visit