LogicaCMG sells Telecoms Products business for US$517 million

The company employs approximately 1,700 people across 22 countries and serves over 1 billion end users, through its relationships with over 300 network operators and service providers and from day one will have revenues US$500 million.

  • E-Mail
By  Tawanda Chihota Published  February 21, 2007

LogicaCMG has announced the sale of its Telecoms Products (TP) business to a consortium of private equity buyers headed by Atlantic Bridge Ventures. The business will form a new company named Acision. Acision will continue to provide intuitive messaging, intelligent charging, content enablement and customer intelligence management solutions to the global telecoms and media industries. The company employs approximately 1,700 people across 22 countries and serves over 1 billion end users, through its relationships with over 300 network operators and service providers and from day one will have revenues US$500 million. “Recently the objectives of LogicaCMG’s consulting and integration business and those of Telecoms Products have become less aligned. This separation is a logical step for our business, enabling us to grow our channels and enhance our position as a trusted partner for network operators and service providers,” commented Chris McDermott, CEO of LogicaCMG Telecoms. LogicaCMG Telecoms Products pioneered SMS, and continues to lead the market today, processing over half of the world’s text and multimedia messages every day. In addition to maintaining its strong roots in messaging, the company also serves three out of every four videomail users; its content and messaging payment systems have processed over US$100 billion of revenues.

Add a Comment

Your display name This field is mandatory

Your e-mail address This field is mandatory (Your e-mail address won't be published)

Security code