Oracle To Buy VC-Backed Convergin

Oracle has agreed to acquire Convergin Inc., a Herzliya, Israel-based provider of real-time service brokering solutions. No financial terms were disclosed. Convergin has raised around $10 million in VC funding from Pitango Venture Capital and Rich Investment Ltd.

PRESS RELEASE

Oracle has agreed to acquire Convergin, a leading provider of real-time service brokering solutions.

Convergin’s industry-leading J2EE-based Service Broker platform enables communications service providers (CSPs) to manage services for a wide range of networks and application platforms, including pre-paid charging. The solution allows CSPs to focus on launching innovative services while modernizing to next-generation networks.

CSPs are increasingly looking to transition from inflexible and costly intelligent network platforms to deliver value-added services. The combination of Oracle and Convergin is expected to provide a single carrier-grade, standards-based IT platform allowing CSPs to effectively evolve their service delivery capabilities at a lower total cost of ownership.

Convergin products complement Oracle Communications’ integrated product suite, including Oracle Communications Billing and Revenue Management, Oracle Communications Converged Application Server and Oracle Communications service fulfillment applications.
The transaction is expected to close the first half of this year. Financial details of the transaction were not disclosed.
Supporting Quote
“As communications service providers transition from legacy telephony networks to next-generation networks, the combination of Oracle and Convergin will accelerate new service innovation while reducing network complexity and cost,” said Bhaskar Gorti, senior vice president and general manager, Oracle Communications.

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