Subex acquires Mantas, consolidates fraud management

Bangalore, Mar 7: Further consolidating its leadership position in telecom fraud management space, the city-based Telecom Software product company, Subex Systems, today announced acquisition of business assets relating to Fraud management of US-based Mantas for a consideration of two million US Dollars.

With a payback on investment in 18 months, Subex systems aimed at getting major clients with the acquisition in the fraud management space to emerge a major global player, Company President and CEO Subash Menon told newspersons here.

Subex, which also had products for revenue maximisation and risk management of telecom operators, wanted to quadraple its revenue to over 100 million Dollars by 2009 from the current level of 23 million Dollars. The quantum jump in revenue could also be through some important acquisitions, he said and added ''We are considering some more companies.'' The acquisition of Mantas fraud management would gain Subex several significant wireline customers in North America and its position in revenue maximisation space, he added.

A part of 10 million GDR raised by Subex would be utilised for the acquisition, he added.

UNI