Subex Azure to acquire Syndesis for $165 m

Bangalore, Jan 18 | Updated: Jan 19 2007, 05:39am hrs
Telecom software company Subex Azure will acquire Syndesis Ltd in an all-cash deal of $164.5 million. The valuation of the deal, said to be so far the largest in Indian IT space, was based on Syndesis TTM (trading twelve months) revenue of $45 million, Subex Azure chairman, MD and CEO Subash Menon, said in a release.

Subex Azure offers revenue maximisation solutions for telecom companies, while Syndesis works in the same vertical, offering operations support software, Menon said.

The acquisition of Syndesis, a recognised leader in the fulfillment and assurance solution segment, will enable Subex Azure to extend its product portfolio to provide field-proven solutions that empower opera- tional dexterity. He said that the transaction was expected to extend Subex Azures expertise in fraud and revenue assurance solutions to new markets of service assurance and service fulfillment. The transaction is expected to be closed by March 31, 2007. The expanded company would then be reorganised into three strategic business units focusing on revenue maximisation solutions, fulfillment and assurance solutions and BT (British Telecom) business, Menon said. CEO of Syndesis John Lochow would head the fulfillment and sssurance solutions SBU, Menon said.