TORONTO, Aug. 12, 2016 /CNW/ - Redknee Solutions Inc. (TSX: RKN), a leading provider of real-time monetization and subscriber management software, announced that it received a letter from Crescendo Partners on August 11, 2016 that was subsequently publicly disclosed by Crescendo Partners. In its letter, Crescendo Partners indicates that it is a significant shareholder of Redknee, and urges Redknee's Board of Directors to commence a process for the sale of Redknee.
Redknee is committed to building value for all shareholders, and to that end, will continue to execute its strategic plan and review alternatives available to it. Redknee is in the course of reviewing the letter from Crescendo Partners with its Board of Directors and advisers, and intends to invite Crescendo Partners to meet with Redknee representatives to obtain an understanding of its views.
About Redknee Solutions Inc.
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: David Charron, Chief Financial Officer, Redknee Solutions Inc., T: (905) 625-2943, [email protected]; Lawrence Chamberlain, Investor Relations, NATIONAL | Equicom, T: (416) 848-1457, [email protected]