TORONTO, March 23, 2016 /CNW/ - Redknee Solutions Inc. (TSX: RKN), a leading provider of real-time monetization and customer management software, is pleased to announce the inauguration of its new state of art Bangalore office. The new office features a modern work environment for Redknee's team, designed on the tenets of open culture and team work. The inauguration of the Bangalore office took place today and was attended by dignitaries from Redknee's customers and partners, and from the High Commission of Canada in India. The investment in this new facility re-iterates Redknee's long term commitment to India, and the expansion of its development center to cater to growing global market needs.
The Asia-Pacific (APAC) telecoms market is experiencing significant growth in 3G and LTE services, driven by consumer demand for multimedia communication, consumption of Internet content and online commerce. Redknee's expertise in revenue and subscriber management solutions support service providers in monetizing this growth in data services. The growth in the telecoms market is driving the expansion of the Indian BSS/OSS market, which is expected to reach an annual compound growth rate of 16%1 by 2020. Redknee's expansion in Bangalore ensures that it has a strong local presence to capitalize on the rapid growth in the market.
Lucas Skoczkowski, Redknee's CEO commented:
"Redknee has maintained a strong presence across the Indian subcontinent for more than a decade. Redknee is pleased to continue this investment to maximize the value for our clients and business. With the APAC market transforming quickly, Redknee is well positioned to add value to the telecommunications industry and to continue to be a leading OSS/BSS provider. We are excited about the opportunity in the APAC market and are pleased to celebrate the inauguration of the Bangalore office with some of our most valued clients and dignitaries in the country."
Greg Giokas, Consul General of Canada in Bangalore commented:
"Redknee is a winning combination of a global company able to leverage the strengths and resources of its operations around the world. We see tremendous growth potential in India, for Canadian companies like Redknee, driven by 4G/LTE services and investment in innovative areas such as 'smart cities' and the Internet of Things. With Redknee's expansion in Bangalore, the company is well positioned to leverage the vibrant and entrepreneurial spirit of the city to drive further innovation to provide leading-edge solutions in this dynamic and growing market. We look forward to seeing Redknee's continued success in the years to come."
Redknee monetizes today's digital world. We provide a complete portfolio of mission-critical monetization and subscriber management solutions and services that allow communications service providers, utility companies, auto makers and enterprise businesses of all types to charge for things in new and innovative ways. Redknee's real-time billing, charging, policy and customer care offerings provide the agility and scalability to drive a unique user experience, increase profitability and support any new product or business model. Available on premise, cloud-based, or as a Software-as-a-Service, Redknee's low-risk, flexible solutions power more than 250 businesses across the globe. 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, please go to www.redknee.com.
SOURCE Redknee Solutions Inc.
For further information: Redknee Solutions: Michaela Radman, Marketing Director, Michaela.Radman@redknee.com, +1 905 625 2190; Investor Relations: Lawrence Chamberlain, NATIONAL | Equicom, T: (416) 848-1457, email@example.com