Disposal
Intec Telecom Systems PLC
19 November 2007
Intec Telecom Systems PLC ("Intec")
Intec agrees sale of certain product and customer assets to VoluBill SA for £1
million
London, 19 November 2007 - Intec Telecom Systems PLC (LSE: ITL.L), a leading
supplier of software solutions to the global telecoms industry, has agreed to
sell certain assets, including software intellectual property rights and
customer contracts, to France based VoluBill SA for an initial sum of one
million Pounds. The assets to be transferred relate to Intec's Denmark-based '
Intec DCP' rating and charging product. Intec has integrated these capabilities
into its current portfolio and will continue to offer them to its global
customer base. Intec will also receive a proportion of support and maintenance
revenues from the Intec DCP customer contracts transferred, as well as a
proportion of licence fees for new sales contracted by Volubill, for a period of
two years. Intec and VoluBill have also agreed to enter into a partnership
agreement which will allow Intec to resell the DCP product as part of its BSS/
OSS (business and operations support systems) portfolio. Intec does not expect
the disposal, the sale proceeds or subsequent revenues to have a material impact
on its business in future periods.
The assets were acquired by Intec in 2003 as part of its purchase of Digiquant
AB. In the year ended 30 September 2006 the revenue attributable to the assets
being sold was approximately £3.4m with a loss before tax of approximately £1.1
million. The gross value of the assets was recorded as £0.2 million at 31 March
2007. The agreement provides for the transfer of approximately 40 staff, the
majority based in Denmark, to VoluBill. The transaction is expected to close on
30th November 2007. The proceeds of the sale will be used for general corporate
purposes.
John Hughes, Chairman of Intec, said: "This is an execution of our ongoing
strategy to focus our business on its core strengths and to rationalise our cost
structure and product portfolio for increasing future performance. VoluBill is
an experienced vendor in the technical space concerned and will be well placed
to continue developing and marketing the solution. We will be working closely
with VoluBill to ensure a smooth customer transition."
John Aalbers, CEO of VoluBill added: "I am familiar with the Intec DCP product
through my previous role at Intec and I believe that VoluBill will be able to
maximize its potential as part of a closely integrated portfolio. We look
forward to continuing our association with Intec in the future and to developing
a profitable line of business for VoluBill based on these assets."
For further information, please contact:
Intec Telecom Systems PLC
John Hughes, Chairman and interim Chief Executive Officer +44 (0)1483 745 800
College Hill
Sara Musgrave/Carl Franklin/Ben Way +44 (0)20 7457 2020
NOTES TO EDITORS
About Intec Telecom Systems PLC
Intec supplies billing software solutions to over 60 of the world's top 100
telecoms carriers and is one of the world's leading BSS/OSS vendors. Intec's
customers include AT&T, BellSouth, Cable & Wireless, The Carphone Warehouse
(UK), China Unicom, Deutsche Telekom, Eircom (Ireland), France Telecom,
Hutchison 3G, O2, Orange, T-Mobile, Telefonica, Vodafone, Virgin Mobile, Vivo
and Verizon.
Intec has a comprehensive and expanding range of solutions and services ranging
from market leading mediation and convergent billing products through to
innovative IMS Charging solutions. Intec works closely with its customers, many
of whom have been with Intec since its inception, to provide the highest
standards of performance, flexibility and robustness to help carriers service
their customers effectively and profitably.
Founded in 1997, Intec is listed on the London Stock Exchange (ITL.L) and has
over 1,600 staff and 31 offices in 25 countries. For more information visit
www.intecbilling.com
About Volubill SA
VoluBill provides innovative "on the network" charging solutions to telecoms
operators worldwide. VoluBill's Charge itTM and Track em solutions enable
operators to:
• Offer real-time charging for any mobile service using any payment method
• Differentiate themselves competitively in the marketplace through innovative
service bundles and unprecedented flexibility in charging models and metrics
• Realise rapid time to revenue for new product & service offerings through ease
of implementation and "drop in" network integration
• Monitor, analyse and control subscriber activity across all data and content
services in order to maximise customer satisfaction, as well as eliminating
revenue leakage and fraud
• Transcend the boundary between the network and IT systems in order to achieve
maximum flexibility and unlock the potential of real time BSS integration
Founded in 2001, VoluBill is a privately owned company, backed by strong
International investors including Deutsche Venture Capital, Sofinnova Ventures,
Sofinnova Partners, Argo Global Capital, Seventure and Xange. VoluBill is a
global company, with customers and offices in all major geographies as well as
centres of excellence in Europe and Asia. VoluBill is serving the needs of both
emerging and established operators worldwide, with more than 200 million
subscribers currently being supported around the world using VoluBill's
technology.
This information is provided by RNS
The company news service from the London Stock Exchange