Subex acquires Canadian software products firm

BANGALORE: Subex Systems Ltd., a Indian software company engaged in offering

solutions for telecom sectors, has acquired the software products business of

Magardi, Inc. The Canada based firm has a suite of revenue security products

that include OUTsmart, a wireline fraud management system and Incharge, a

billing verification system. The Subex will accquire the firm $ 1.9 million and

3 per cent of stock.

"This acquisition brings us direct access to many high profile

clients in the North American telecom market, which Magardi has built up over

the past several years. We expect to leverage this to enhance our Software

Product Division business substantially" said the chairman and managing

director, Subash Menon.

Commenting on the acquisition, the founder of Magardi Inc., Bruce Jones said,

"The Magardi team finds excellent synergy in the operations of Subex.

Especially so, because we share the same focus in the Revenue Maximization area.

We are sure that the managerial strength at Subex and the company's focus in the

telecom software space will help us to grow at a quicker pace in the

future".

Subex, focuses on telecom software solution business segment and lays emphasis

on software products. This acquisition enhances the position of the company as a

provider of telecom software products globally. Subex currently has operations

in Europe, Africa and Asia Pacific and with the acquisition of the business of

Magardi, the operations will now cover the North and Latin American markets as

well. "We believe this to be the first software product acquisition by any

Indian company", said Subex Systems Ltd. executive director Alex.

Subex currently offers Ranger, a wireless fraud management system, to the

telecom operators. This acquisition will expand this offering and will result in

a suite of products in the Revenue Maximization domain. The acquired operations

will be merged with the Software Products Division of Subex.

Some of the major clients of Magardi in North America include AOL Time Warner,

Global Crossing, Sprint, AT&T, Teleglobe etc. "This acquisition

provides us an excellent opportunity to tap these Tier 1 telecom operators for

our software products business", said Subex CEO of software products

division Sudeesh Yezhuvath