TORONTO, ON – June 27, 2005 – Redknee Inc., a leading global provider of communication software to wireless telecommunication network operators, today announced the closing of US$10 Million in debt financing led by MMV Financial Inc. HSBC Capital (Canada) Inc. also participated in the financing.
“Redknee will use this financing to expand the company’s sales and market share as we secure new customers and enter new markets,” said Lucas Skoczkowski, CEO of Redknee. “This financing validates our track record of twenty six customer wins and will propel us to deliver on our commitment to be the leading provider of mobile communication software in the wireless sector.”
”Redknee demonstrates all of the attributes of a winning company in the fast growing wireless sector”, said Minhas Mohamed, Chief Executive Officer of MMV Financial Inc. “Its dynamic management team has built a profitable company delivering mission-critical billing, messaging and location based systems to global wireless leaders such as O2, Vodafone, T-Mobile, Rogers Wireless and Bell Mobility. We are very impressed that Lucas Skoczkowski and his team have built, in such a short time, a company that ranks as one of the world leaders in its sector.”
RBC Capital Markets acted as exclusive private placement agent for Redknee on this transaction.About Redknee:
Redknee is a leading provider of telecommunication software solutions, which enable network operators and service providers to deliver innovative value-creating services. Redknee's commercially deployed suite of software products seamlessly integrate into customer networks and provide a full set of business-critical network capabilities. Redknee’s capabilities include service provisioning, real-time converged billing, messaging, service control, customer relationship management solutions which provide value-added functionality to wire-line, mobile, circuit-switched, and VoIP service providers.
Redknee's breadth of experience and robust, scalable architecture allows our customers to enhance their service portfolio and network capabilities, while leveraging Redknee's best-in-class technical delivery organization to ensure a rapid and efficient deployment and service launch.
Redknee’s next-generation software delivers innovative services to over 25 top tier network operators, with over 185 million subscribers worldwide. Redknee’s global headquarters are located in Toronto, Canada. For more information visit http://www.redknee.com/
About MMV Financial:
For more information, contact
Tel: +1 905 625 2840
Fax: +1 905 625 6485
MMV Financial is a Toronto-based specialty finance company providing creative debt solutions directly to mid-stage technology and life sciences companies, with a focus on the Canadian and North American sectors. Previously known as MM Venture Partners, the firm is backed by top U.S. and Canadian private equity firms and financial institutions including Conning Capital Partners of Hartford, Connecticut, Caisse de dépôt et placement du Québec of Montreal, and Wells Fargo Foothill, a part of Wells Fargo Company. For more information visit http://www.mmvf.com/