TORONTO, Aug. 22, 2016 /CNW/ -Redknee Solutions Inc. (“Redknee” or the “Company”) (TSX: RKN), a leading provider of real-time monetization and subscriber management software, today announced it has formed a special committee of independent members of the board of directors of the Company to consider various strategic and financing alternatives potentially available to the Company to enhance shareholder value, including a possible sale of the Company. As part of this process, the Company has engaged TD Securities Inc. as financial advisor.
While the Company has initiated this process, there is no certainty that any transaction or alternative will be undertaken or pursued. The Company has not set a definitive schedule to complete its evaluation and no decision on any particular transaction or alternative has been reached at this time. The Company does not intend to disclose ongoing developments with respect to this process, but in accordance with its continuous disclosure obligations, will disclose material developments if, as and when they occur.
About Redknee Solutions Inc.
Redknee monetizes today’s digital world. We provide a complete portfolio of mission-critical monetization and subscriber management solutions and services that allow communications service providers, utility companies, auto makers and enterprise businesses of all types to charge for things in new and innovative ways. Redknee’s real-time billing, charging, policy and customer care offerings provide the agility and scalability to drive a unique user experience, increase profitability and support any new product or business model. Available on premise, cloud-based, or as a Software-as-a-Service, Redknee’s low-risk, flexible solutions power more than 250 businesses across the globe. Established in 1999, Redknee Solutions Inc. (TSX: RKN) is the parent of the wholly-owned operating subsidiary Redknee Inc. and its various subsidiaries. References to Redknee refer to the combined operations of those entities. For more information about Redknee and its solutions, please go to www.redknee.com.
Certain statements in this document may constitute “forward-looking” statements regarding Redknee and its business, which may include, but are not limited to any strategic alternatives potentially available to the Company. Forward-looking statements are provided for the purpose of providing information about management’s current expectations and plans relating to the future. Persons reading this news release are cautioned that such information may not be appropriate for other purposes.
Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future events or results, and will not necessarily be accurate indications of whether or not such events or results will be achieved. Actual events or results could differ materially from those contemplated in forward-looking statements as a result of risks and uncertainties relating to the ability to identify any strategic or financing alternatives that could increase shareholder value, including: the risk that the strategic review could result in additional demands on Redknee’s resources, disruption of its ongoing business and diversion of management’s attention from other business concerns; Redknee’s inability to complete a transaction; disruptions resulting from any transaction, making it more difficult to maintain business relationships; and other factors discussed under the “Risk Factors” section of Redknee’s most recently filed AIF which is available on SEDAR at www.sedar.com and on Redknee’s web-site at www.redknee.com. Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual events or results to differ materially from those in the forward-looking statements. Redknee does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
SOURCE Redknee Solutions Inc.