Subex wins contract worth millions of dollars

BANGALORE: Software maker Subex Systems Ltd. today said that it had won its first contract from an Internet service provider worth millions of dollars.

The contract is for Ranger, a fraud management system from a Tier — 1 ISP in North America. Bangalore-based Subex said its product will helps prevent billing frauds. The ISP has a subscriber base of more than five million, Subex said in a press statement released here. However, Subex did not give details of the duration or the amount of the contract.

Commenting on the contract, Subash Menon, president and CEO of Subex, said, “Subex's solutions are technology-agnostic and this win (of the contract) asserts our products' flexibility in adapting to needs of different types of service providers.”

Meanwhile, Subex's shares today rose as much as 5.9 percent to Rs 610 in a firm Bombay market.