VanillaPlus

Lucas Skoczkowski, Redknee: Nimbus
Systems meets key acquisition criteria


Toronto, Canada. July 30, 2010 – Redknee Solutions Inc. (TSX:RKN), a provider of software and services for communications service providers (CSPs), today announced that it intends to acquire privately-held, Spanish-based Nimbus Systems, S.L. under an agreement between Redknee and Nimbus Systems. The acquisition by Redknee, provider of software and services including end-to-end converged billing, real-time charging, rating and personalisation, is expected to close before September 30, 2010, subject to meeting certain terms and conditions.

The acquisition of Nimbus Systems will strengthen Redknee’s operating model and market share -- particularly among global group operators such as Telefonica, Orange and Vodafone -- while providing future opportunities to expand into the Latin American markets.

Established in 2001, Nimbus Systems has been engaged in analysis, control and management solutions, with a particular focus on customer relationship management (CRM) systems and billing, rating and partner relationship management. Nimbus Systems currently supports more than 10 customers, including group operators Telefonica and TeliaSonera, and non-telecoms clients, such as Santander, Spain’s largest bank, and First Data, one of the world’s leading transaction credit and loyalty card infrastructure companies.

Following the acquisition, Nimbus Systems’ customers and employees will be integrated into Redknee’s existing business with a view to leveraging Nimbus Systems’ customer base, partner network and employees. The two co-founders of Nimbus Systems will assume leadership roles in business line management with Redknee.

“We are pleased to announce this important milestone in the execution of Redknee’s growth strategy. The acquisition of Nimbus Systems meets all of our key acquisition criteria: increasing our access to customers; adding skilled employees in key areas to support our growth; and expanding our existing product lines with complementary offerings in post-paid billing, billing tools and customer experience management,” commented Lucas Skoczkowski, Redknee’s CEO. “The market, product and cultural synergies between the two companies will elevate our capabilities and market presence to better serve our customers, create cross selling opportunities for joint product and service portfolio, while positioning us to engage and win new customers.”

João Gonçalves and Jose Martull, co-founders of Nimbus Systems commented:

“We are very excited to join Redknee. Redknee’s global presence, strong reputation in the real-time billing space and its commitment to its customers make it an ideal combination to extend the power of next generation customer care and billing. Our shared vision of bringing together network and business intelligence will give service providers unrivalled next generation billing, settlement and customer experience management solutions to drive revenue and maximise their investments.”

Nimbus Systems is headquartered in Madrid, Spain with offices in Lisbon, Portugal. To complete the acquisition, and subject to certain terms and conditions in the purchase agreement, Redknee will acquire all of Nimbus Systems’ issued and outstanding shares and will pay approximately €11,250,000. This consists of approximate €7 million in cash, with the balance in Redknee common shares.