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Subex catapults into No. 1 position, globally
Acquires Alcatel’s Fraud Management Group, Gains 25 additional customers, Expands presence in Europe
Subex Systems, the global telecom software product company, has announced its acquisition of the Fraud Management Group (FMG) of the French giant Alcatel. This acquisition adds nearly 25 new clients to Subex's already large roster of 39 clients and gives Subex No. 1 position in the global Telecom Fraud Management space. Subex has signed an agreement to this effect for a total consideration of about USD 3 million.
“This acquisition marks a very exciting and strategic step forward for Subex," said Mr. Subash Menon, President & CEO, Subex Systems. "With this acquisition we become the largest vendor, the world over, for fraud management systems, based on the number of customers and the number of installations”.
Further strengthening the association between the two companies, Alcatel will partner with Subex and will offer Subex’s fraud management and revenue assurance solutions as part of its’ extensive offering for revenue management to telcos all over the world. This global partnership with Alcatel is expected to boost the business of Subex in the coming years. “Subex will be Alcatel’s sole partner for fraud management and revenue assurance. This acquisition and the consequent partnership strengthens our credentials and stature in the revenue maximization segment,” said Mr. Menon, while commenting on the partnership.
Alcatel FMG brings to Subex very strong synergies with its client base. As many as 30 carriers worldwide, including Tier-1 carriers like Tiscali Italy, Vodafone Ireland, Colt UK, Thus UK and Energis UK among others, use Alcatel's fraud management system. “More than the acquisition, what is significant here is the trust that Alcatel has placed on us indicating that we have the capability to manage the revenue assurance needs of their existing and future clientele. We'd also be retaining some of the employees of Alcatel's FMG and place them in our new facility in the UK," added Mr. Menon. Subex's new facility, expected to be operational by August - September 2004 would be located in London and would act as a sales and support office, primarily for Europe.
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