Subex raises $ 180 mln via FCCBs

New Delhi, Mar 2 (UNI) Software company Subex Azure Ltd today said it has raised 180 million dollars through Foreign Currency Convertible Bonds (FCCBs) to fund the acquisition of Syndesis Ltd.

The consideration for the proposed acquisition is 165.4 million dollars.

''This capital raising exercise of the convertible bonds, to be listed at the London Stock Exchange, represents an important milestone for Subex Azure,'' Subex Founder Chairman, Managing Director and Chief Executive Officer Subash Menon said.

Syndesis Ltd is a leading global provider of telecom OSS (Operational Support Software) solutions.

UNI