Combined offering broadens product portfolio and geographic reach of the world’s number one revenue assurance company
Azure Solutions, the revenue assurance company, today announced the acquisition of Connexn Technologies, the U.S.-based cost and revenue assurance company. Through the acquisition, the companies will trade under the Azure Solutions name and will continue to provide tier-one communications service providers with access to the world’s best1 and broadest revenue assurance portfolio. Financial terms of the acquisition were not disclosed.
Azure is headquartered in London, maintains its R&D centre in Ipswich, U.K. and has people in Paris, Frankfurt, Madrid, Singapore, Jakarta and Sydney. It was spun out of British Telecommunications plc (BT) in April 2003 and is backed by New Venture Partners, the technology venturing partnership. Connexn is based in Westminster, Colorado, USA, and has offices in Birmingham, U.K. and Singapore. The acquisition expands Azure’s tier-one customer base to other industry leading providers, such as BT, Telenor, Cable & Wireless, France Telecom, BSNL, Optus, KPN, Vodafone, Orange, O2, Qwest and AT&T.
With the acquisition, Azure Solutions extends its unrivalled domain expertise in telecoms and revenue assurance, combining Azure and Connexn’s product offerings and teams. Azure’s award-winning portfolio contains the broadest range of revenue assurance products and services, including Interconnect Accounting, Security and Fraud Management and Route Optimisation. Connexn’s revenue assurance software is widely considered to be the industry’s most comprehensive, enterprise platform. It enables carriers to manage, integrate and automate core elements of their revenue assurance activities across the enterprise. Using Connexn’s management console and dashboard, carriers can quickly deploy and manage multiple revenue assurance applications from a single, easy-to-use interface.
Under the terms of the acquisition, all existing customer and partner agreements will be fully supported and Azure will continue to maintain Connexn’s offices in Westminster as its new North American operations centre. Azure will now have the most comprehensive partner network available to address all aspects of revenue assurance. Carriers with operations in more than one region also will benefit from Azure’s increased geographical footprint, with an employee base of more than 200 people throughout Europe, North America and Asia Pacific.
John Cronin, president and CEO of Azure, said: “We have long-admired Connexn’s products and commercial success. Its dedicated people, technology and geographical range made it very attractive. This acquisition is great news for carriers worldwide, as our combined technology and expertise will ensure that they continue to have the best products and services available to reduce revenue leakage.”
Steven Bruny, previously COO of Connexn Technologies and now president of Azure Solutions Inc., said: “We are delighted to have become a significant part of Azure, as it has great expertise and international credibility in the telecoms market. Revenue assurance is becoming an increasingly important issue for carriers, and the new company will be able to deliver the very best implementation, maintenance, service and support worldwide.”
1 Azure was judged best for performance, quality, reliability, service and support (Heavy Reading’s Fall 2003 OSS Perception Survey) and was ranked number one for revenue assurance in Europe (Operator Attitudes to Revenue Assurance, Analysys, September 2004). Connexn was judged ahead of other solutions providers in dedicated focus and product commitment to revenue assurance (Yankee Group competitive ranking June 16, 2004).
About Connexn Technologies (www.cnnxn.com)
Connexn Technologies leads the industry in technology-based cost and revenue assurance (CRA) with more than 70 customer engagements worldwide. The company’s offerings include a blend of software and professional services for highly scalable CRA programs. As a driving force in the emergence of CRA as a mission-critical, enterprise-level application, Connexn’s platform helps customers automate even more of the CRA process, and manage and integrate disparate programs from a single, easy-to-use interface. Connexn is based in Westminster, Colorado, with regional headquarters in the U.S., the U.K. and Singapore. Connexn is backed by Sequel Venture Partners, A. G. Edwards & Sons, Inc. and Hexagon Investments, Inc.
About Azure (www.azuresolutions.com)
Azure is one of the world’s leading revenue assurance companies. It is headquartered in London, with people in Ipswich UK, Madrid, Hong Kong, Jakarta and Sydney. Its product portfolio includes Interconnect Billing, Security and Fraud Management, Mediation Management, Event Integrity and Route Optimisation. Azure provides individual products or complete revenue assurance solutions using a common platform and any combination of products that a customer might need. Customers can choose a system that they own and operate themselves or a bureau that Azure manages on their behalf. Amongst Azure’s customers are PTTs, mobile operators, national operators, carrier’s carrier and cable TV companies; Azure has significant carrier experience and understands the problems faced by all these operators. The company’s heritage is based on the fundamental technology and skills developed whilst in BT in the early 1990s with many of the world-class technical experts remaining at Azure today.
Azure was spun out of BT in April 2003 and is backed by New Venture Partners (www.nvpllc.com).
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