TORONTO – October 5, 2010 – Redknee (TSX:RKN), a leading provider of business-critical billing and charging software and solutions for communications service providers, today announced that it has signed a licensing agreement with Freedom Wireless Holdings, Inc., the owner of a portfolio of patents relating to prepaid wireless communications. Signing of the agreement will ensure that both wireless telecom operators and MVNOs can leverage Redknee’s converged billing solutions to launch innovative prepaid and postpaid services in the U.S. market. This strategic agreement comes as the growth of the U.S. prepaid market continues to prosper. According to the New Millennium Research Council, the U.S. prepaid market grew 17 per cent to
54.4 million subscribers during the fourth quarter of 2009, up from 46.3 million during the same period in 2008.
Lucas Skoczkowski, Redknee’s CEO commented:
“As per our strategic growth plan, Redknee remains focused to support U.S.
operators and MVNOs with its turnkey converged billing solution. This agreement with Freedom Wireless supports our plans to enable our customers to leverage and achieve the benefits of Redknee’s real-time monetization solutions for their prepaid, postpaid and hybrid customer needs. At Redknee, we continue to invest in real-time monetization solutions to support the growth of mobile data and content for wireless subscribers around the world.”
Larry Day, President of Freedom Wireless commented:
“As the owner and licensee of a portfolio of U.S. and international patents in the prepaid wireless communication field, we are pleased that Redknee has licensed our intellectual property to support its launch of prepaid wireless services and products to the U.S market.”
Redknee is a leading global provider of innovative communication software products, solutions and services. Redknee’s award-winning solutions enable operators to monetize the value of each subscriber transaction while personalizing the subscriber experience to meet mainstream, niche and individual market segment requirements. Redknee’s revenue generating solutions provide advanced converged billing, rating, charging and policy for voice, messaging and new generation data services to over 90 network operators in over 50 countries. Established in 1999, Redknee Solutions Inc. (TSX: RKN) is the parent of the wholly-owned operating subsidiary Redknee Inc. and its various subsidiaries. References to Redknee refer to the combined operations of those entities. For more information about Redknee and its solutions, visit www.redknee.com.
About Freedom Wireless
Wireless pioneer firm Freedom Wireless owns and licenses a portfolio of U.S.
and international patents directed at prepaid wireless communications. Today, licensees of Freedom Wireless offer a wide range of licensed services and products to millions of prepaid wireless customers throughout the United States. Licensing inquiries should be directed to Larry Day at firstname.lastname@example.org or 480-315-8260.
For additional information please contact:
Humera Malik, Director of Global Marketing
+1 905 625 2102
David Charron, Chief Financial Officer
+1 905 625 2943