PARIS, May 26, 2010 /PRNewswire/ -- eServGlobal Limited , a provider of smarter transaction management solutions, today announced the sale of its USP (Universal Services Platform) business to Oracle.
Oracle and eServGlobal have entered into a definitive agreement under which Oracle will purchase ownership of eServGlobal's USP assets, which includes a pre-paid charging application, a network-services platform and a messaging gateway, currently supporting more than 25 tier-one customers including the world's largest IT-based installation of pre-paid services. The Board of Directors of eServGlobal has unanimously approved the transfer of the USP products which include ChargingMax, NumberMax, uVOMS, MessageMax, PromoMax Express, UMS and Social Relationship Management to Oracle.
eServGlobal's major shareholder, Guinness Peat Group (holding approximately 19% of the issued share capital of eServGlobal) has entered into an agreement with Oracle under which it agrees to vote its shares in favour of the transaction. In addition, MHB Holdings Pty Ltd, Wallaby Hill Pty Ltd and Craig Halliday (representing approximately 20% of eServGlobal's issued share capital in aggregate) are supportive of the transaction and have confirmed in writing to eServGlobal that in the absence of a superior proposal from a third party, they intend to vote their shares in favour of the resolution to approve the transfer.
Oracle and eServGlobal have been industry pioneers for more than 20 years. This deal represents a strategic move for both companies. eServGlobal will focus its technology and resources on the m-Money and Value Added Services businesses and in expanding our Software as a Service (SaaS) delivery and licensing models to take advantage of this high growth opportunity, said eServGlobal CEO Richard Mathews. By purchasing the charging product line and all USP-based products, Oracle has acquired leading technology that supports one of the largest installed charging bases in the world and provides our customers with cost-efficient routing of international calls, SMS and multi-media messages using a combination of TDM and SIP networks.
The deal is anticipated to close in the second half of 2010, subject to certain regulatory approvals and customary closing conditions.
About eServGlobal
eServGlobal provides solutions for Smarter Transaction Management, driving more value from each telecom transaction.
We enable new business models for tomorrow, while maximizing our customers' investments today. Mobile, fixed, Internet and multi-play communications providers use our world-leading, real-time capabilities to significantly increase revenues, customer loyalty and expenditure efficiency.
Today more than 80 customers, in over 50 countries, perform over 2.4 billion transactions per day using our solutions. eServGlobal has the largest payment installed base in the world.
Our customers drive our solutions, which are rapidly developed and deployed to allow the customer to succeed in changing markets. This customer led approach to our business enables our customers to quickly create and launch new services and personalized, real-time promotions to lead and innovate in their markets.
eServGlobal specializes in agile mobile payment, retention, messaging and VAS solutions. Our HomeSend solution is the only GSMA endorsed mobile-centric international remittance hub, allowing operators rapid access to this lucrative market.
With 17 offices globally we provide flexible end-to-end solutions with ongoing product development and worldwide implementation and support services.
eServGlobal is listed on the Australian Stock Exchange (ESV) and the London Stock Exchange AIM (ESG). More information at: http://www.eservglobal.com
SOURCE: eServGlobal
CONTACT: For further information, please contact: Sally Bennett,Communication Manager, T: +33-1-46-12-77-46, sally.bennett@eservglobal.com,F: +33-1-46-12-77-49; Katia Hilal, Marketing Director, T:+33-1-46-12-58-85, katia.hilal@eservglobal.com, F: +33-1-46-12-77-49
Comments