Acquisition Consolidates the Two Market Leaders in the Revenue Management Industry
London, UK, January 13, 2010 – cVidya Networks, (http://www.cvidya.com/) a global leader and innovative provider of Telecom Revenue Assurance and Dealer Management products, announced today that it has completed the acquisition of ECtel LTD., a leading provider of Integrated Revenue Management™ (IRM®) solutions for communication service providers, in a cash transaction amounting to $21 million. The combined company shall remain private and operate under the cVidya name. The acquisition of ECtel positions cVidya as the leading global vendor in the Revenue Intelligence category, in terms of market share, revenues, installed base and product portfolio.
"cVidya is one of the true innovators in revenue assurance. Its fresh initiatives for Dealer Management at Vodafone and its role as an Interconnect partner at BT are two examples of that inventiveness. Bringing ECtel into the family not only adds fraud management and product profitability analytics into the mix, it also boosts the scale of the business, making cVidya a one-stop shop for revenue intelligence solutions," said Dan Baker, Research Director at Technology Research Institute (TRI).
Alon Aginsky, President, CEO and Founder of cVidya, concluded: “This is a defining moment for our company, establishing our position as a global leader and the largest provider of Integrated Revenue Intelligence solutions for communication, media and entertainment service providers. With this acquisition, cVidya now serves 132 telecom and media customers and employs 300 professionals in 18 global locations.”