Redknee pays $14m for Nimbus
BSS vendor Redknee Solutions has arranged to acquire Nimbus systems for €11.25 million ($14.4 million).
RedKnee will pay €7 million in cash and the remainder in shares for the Spanish-headquartered Nimbus. The acquisition is expected to be closed by September 30.
RedKnee CEO Lucas Skoczkowski said the purchase will strengthen its market share, and provide it with opportunities to expand into the Latin American markets.
“The acquisition of Nimbus Systems meets all of our key acquisition criteria: increasing our access to customers; adding skilled employees in key areas to support our growth; and expanding our existing product lines,” he said.