Subex to serve more Tier-1 carriers in the US – Announces Agreement to Acquire Fraud Centurion Product from US-based Lightbridge, subject to customer due diligence
Subex Systems, the global telecom software product company, has announced its agreement to acquire, subject to customer due diligence, certain assets and liabilities related to the Fraud Centurion product from Lightbridge, Inc., a leading value-added transaction processing company. This acquisition adds nearly 14 new clients to Subex’s 50 and consolidates Subex’s position as the No. 1 vendor for fraud management solutions, worldwide. The closing is subject to certain requirements set forth the agreement.
"The acquisition will help Subex take giant strides in the US market," said Mr. Subash Menon, President & CEO, Subex Systems. "Coming close on the heels of our European expansion, we now have a clear leadership position in two of the biggest markets - Western Europe and the US.”
"We are very pleased that Fraud Centurion clients will have the opportunity to benefit from Subex's concentrated focus on fraud management and revenue assurance,” said Gregory Crowley, Vice President of Corporate Development at Lightbridge, Inc. "Knowing these clients are in good hands with Subex, we can focus our Fraud initiatives on customer fraud screening, risk and value management solutions. In addition, with our Intelligent Network solutions, we can focus on our PrePay IN software product.”
“We plan to transition the core support team from Lightbridge to our new facility located in Denver US,” added Mr. Menon. Subex's new facility in Denver is expected to be operational by August - September 2004 and would act as a sales and support office for the Americas. Besides taking over the support of Fraud Centurion’s global clientele, Subex will also merge the Fraud Centurion’s functionalities with its flagship FMS, Ranger.
Subex’s recently launched integrated platform for revenue maximization, RevMax offers telecom operators an integrated platform for revenue maximization solutions and eliminates the need to invest piecemeal in point solutions. The benefits of an integrated architecture are both - strategic and operational. Strategically, a single platform optimizing the IT infrastructure costs significantly lesser and such integration drives informed, holistic business decisions and course corrections. The operational benefits include streamlined, standards driven end-to-end Revenue Maximization workflow across the organization. An integrated solution is also easy to maintain, provides architectural flexibility to add new modules and thus extracts maximum analytics value with minimum resource requirement.
US-based Communications Fraud Control Association's (CFCA) pegs annual worldwide telecom fraud losses to be in the range of USD 35 - 40 billion. According to estimates, currently only about 27% of operators use any revenue maximization solution. Of these, around 60% use systems developed in-house. Subex's RevMax suite, through its products Ranger FMS and INcharge revenue assurance solution, maximizes revenue and profits through, assuring earned revenue, enhancement of revenue and cost optimization.