BANGALORE, India—Subex Systems Ltd., a telecom software products developer, announced it’s buying British revenue-assurance developer Azure Solutions Ltd. for $140 million.
The companies said they will operate as Subex Azure Systems Ltd. and plan to offer fraud management and revenue-assurance systems led by Subash Menon, the current chairman and chief executive officer of Subex Systems.
Subex is based in Bangalore, India, and has presence across North America, Europe and Asia. U.K.-based Azure was spun out of British Telecommunications plc in April 2003, backed by New Venture Partners, Doughty Hanson Technology Ventures and Intel Capital.
Both companies said the merger extends their market consolidation strategies. Subex acquired the fraud management assets of Mantas in March, Lightbridge in August 2004 and Alcatel in July 2004. Azure acquired U.S.-based cost and revenue-assurance company Connexn Technologies, along with U.K.-based telecoms software firm Anite Calculus in November 2004.
“Both companies have outstanding people and technology,” Menon. “This merger is great news for operators, as it enables us to further expand our service capabilities, helping them maximize revenues from current and next-generation networks.”
Subex Azure’s said its global and Asia-Pacific headquarters will be in Bangalore, while the EMEA and American operations will be based in London and Westminster, Colo.
