Subex acquires Azure

Bangalore, Apr 25 (UNI) Subex Systems Limited, leading Telecom Software Product company, today announced the acquisition of UK-based Azure Solutions Limited for a consideration of US Dollars 140 million.

Subex Chairman, President and CEO Subash Menon told newsmen here that the deal was the largest overseas acquisition by an Indian Software company. After the acquisition, Subex-Azure will also become the world's leading vendor of Telecom Revenue Assurance Systems.

Mr Menon said that " this deal will clearly propel Subex-Azure to the position of market leader, way ahead of the competition. As the largest overseas acquisition to-date of its kind, this is a transformational transaction for both the Subex and the Indian software product industry." NASSCOM President Kiran Karnik, who was also present, welcoming the acquisition, said that "it is a milestone for the Indian IT Company and a Bangalore based industry acquiring shows the maturity the IT industry has achieved." Azure CEO John Cronin, who was also present said that "we have always believed that the telecom revenue Assurance and Fund Management markets would combine to address the overall problem that telecoms operators do not collect all their revenues. The combination of the two companies, portfolios, customer bases and expertise creates the largest vendor in the market with global coverage." UNI MSP VK GM1529