|By Marketwired .||
|July 4, 2014 06:13 AM EDT||
MARKHAM, ONTARIO and STOCKHOLM, SWEDEN -- (Marketwired) -- 07/04/14 -- Enghouse Systems Limited (TSX: ESL) announced today it has acquired Basset AB ("Basset") for a purchase price of approximately $10.0 million, subject to certain price adjustments.
Headquartered in Stockholm, Sweden, Basset provides revenue management solutions to telecommunications operators and next generation electric utilities in Europe, Africa and the Middle East. Telecommunications service providers continue to seek new revenue streams, such as wholesale revenue from carrier-to-carrier interconnect transactions, roaming traffic or resale of excess capacity for voice and broadband data traffic. Basset has a successful track record of providing products and solutions necessary to execute a comprehensive wholesale revenue strategy.
"The Basset acquisition provides us with strategic assets and global customers, and expands our focus in wholesale and interconnect revenue management," said Sunil Diaz, General Manager, Enghouse Networks Group.
Steve Sadler, Chairman and CEO of Enghouse, stated, "Basset is a great complement to our telecommunication service provider solutions and expands our European presence. We look forward to integrating Basset's operations within the Enghouse Networks Group."
About Enghouse Systems Limited
Enghouse Systems Limited is a leading global provider of enterprise software solutions serving a variety of vertical markets. Its strategy is to build a large diverse enterprise software company through strategic acquisitions and managed growth. Enghouse shares are listed on the Toronto Stock Exchange (TSX: ESL). Further information about Enghouse may be obtained at www.enghouse.com.
About Basset AB
Founded in 1997, Basset is a Swedish-based company dedicated to meeting the revenue management requirements of telecom trading partners and smart grid utilities through a broad portfolio of solutions. As a global provider of BSS software, Basset recently launched its Wholesale Revenue Management platform. For more information, please visit www.basset.com.
Enghouse Systems Limited
VP, Corporate Development