WeDo Technologies acquires US-based network expense manager Connectiv Solutions
Lisbon, Portugal / London, UK / Washington DC, USA. May 1, 2012 – WeDo Technologies, a specialist provider of revenue and business assurance solutions, today announced the acquisition of US-based Connectiv Solutions, which provides management of telecommunications network usage expenses. The purchase, for an undisclosed sum, is intended to strengthen WeDo Technologies’ presence in North America; bringing a boost to the company’s geographical strategy and further cementing the company’s global position in revenue and business assurance.
The deal delivers strong synergies to both organisations, with complimentary market offers and expertise. Connectiv Solutions assists wireless and wireline carriers to maximise the efficiency of their networks; enabling them to simplify vast and complex data streams and identify cost saving opportunities. It delivers these services through four major business segments; traffic management, interconnect management, revenue assurance and managed services. With no customer overlap, the deal brings very strong upselling and cross selling opportunities of both companies’ market offers. Connectiv Solutions has more than 10 customers in USA and 4 out of the top 10 wireless operators in the country are Connectiv Solutions’ customers.
According to analyst firm Gartner, the North American market is the second biggest in the world in external spending on revenue assurance and fraud management and is the biggest in the world in internal spending. Having a trusted local presence like Connectiv Solutions on board, with revenues close to $8 million and a headcount of 35 people for FY2011, will provide a solid foundation for WeDo Technologies to build upon within North America. A stronger US presence will also enable the company to gain an additional source of knowledge and innovation to continue providing existing and future customers with the best possible service.
With a stronger base in telecoms in the US, WeDo Technologies will be able to bring innovation in revenue and business assurance to the region’s retail and energy companies; both sectors in which WeDo Technologies operates successfully in other regional markets.
“Rui Paiva, WeDo Technologies’ CEO (pictured), said, “One of our strategic ambitions was to become a major player in the revenue assurance and fraud management space in North America both on SaaS and Managed Services business models; this deal with Connectiv Solutions enables us to realise these ambitions.”
Brian Silvestri, Connectiv Solutions’ president, commented, “The combined strengths of Connectiv Solutions and WeDo Technologies now enable us to provide North American customers with a complete business assurance portfolio. Whether a customer needs network optimisation, margin management, revenue assurance or fraud management, we can deliver a comprehensive, industry leading solution. That’s a unique offering not many can match.”
WeDo Technologies is a worldwide leader in revenue and business assurance, providing software and expert consultancy, to intelligently analyse large quantities of data from across an organisation helping to negate or minimise operational or business inefficiencies and allowing businesses to achieve significant return on investment via revenue protection and cost savings.
WeDo Technologies works with some of the world’s leading blue chip companies from the retail, energy and finance industries, as well as 140 telecommunications operators from almost 80 countries, through more than 400 highly-skilled professionals.
WeDo Technologies is owned by the largest non-financial Portuguese group – Sonae Group which has 61,000 employees in 18 countries. As well as telecommunications, the group is active in Retail, Real State, TMT, the Wood industry and other business areas. Revenue and Business Assurance, sometimes also called Profit or Revenue Protection, are the domains where WeDo Technologies – through its Software and Services – has become recognized as a constant innovator and true market leader.
Connectiv Solutions, the network efficiency experts, delivers unparalleled visibility and management of telecommunications network usage expenses. Telecom carriers representing more than 120 million customers rely on Connectiv Solutions to reduce operational costs and maintain a competitive advantage.